Cambodia’s biggest gambling operator, Naga Corp, has hailed the government’s directive to stop issuing online gambling licenses anymore.
To what caught many by surprise, Prime Minister Samdech Techo Hun Sen issued a directive which meant that the government will no longer issue any new online gambling licenses. Moreover, the government will also not renew the existing licenses once expired.
Cambodia grants online gambling licenses for a period of one year. As such, online gambling operations will no longer be legal in Cambodia post-August 2020.
Talking to Inside Asian Gaming, NagaCorp Chairman Tim McNally said: “We recognized some time ago that there was compliance and regulatory weaknesses in Sihanoukville and are pleased to see the government intervene to improve the regulatory environment and address local crime issues.”
Naga Corp chairman also said that though they have permissions to operate online gambling services, they have stayed away from it due to ‘compliance and regulatory concerns.’
Cambodia has recently been granting online gambling licenses in huge numbers. According to the country’s Ministry of Finance, the Cambodian government has granted over 160 casino license to several gambling operators. This year alone, between January to April, Cambodia issued 13 casino licenses.
As Cambodia is emerging as a regional gambling hub, this year’s regional Mekong Gaming Summit will be held in Phnom Penh, Cambodia on September 10th – 11th.