PHNOM PENH: Cambodia’s commercial gambling revenue in the first half of 2023 was about $12 million, an increase of nearly 16% from the same period in 2022. However, this is still well below the national budget plan of $42 million for the year.
The slow recovery of the gambling sector is due to several factors, including the COVID-19 pandemic and the government’s recent crackdown on illegal gambling. In addition, the influx of international tourists has been slower than expected this year.
Despite the challenges, the gambling sector is expected to recover more fully in the second half of 2023. This is due to the anticipated increase in international tourism, as well as the government’s plans to enact a new law on the management of all sectors of the gambling business.
The new law is expected to strengthen the regulation of the gambling industry and create a more favorable environment for businesses. This could lead to an increase in revenue for the gambling sector in the years to come.
A government official, Cambodia now issued licenses to 181 companies in the field of commercial gambling, including 87 licenses for business renewal that meet all the conditions, and there are 91 unqualified or provisional licenses and three new licenses issued to new joining.
Currently, the Royal Government has licensed and allowed only two types of gambling, including casinos and instant lotteries. Separately, for electronic games, the Royal Government does not have a license or permission to operate in Cambodia.