Crypto Assets

Search
Close this search box.
Search
Close this search box.
Search
Close this search box.
Cambodia sets minimum capital requirements for casinos

Cambodia sets minimum capital requirements for casinos

Facebook
Twitter
LinkedIn
Email

The Government of Cambodia has announced new capital requirement rules for both existing and new casinos, in a bid to improve the country’s economic growth and its management of the casino industry. The new rules stipulate the minimum capital requirement for an integrated commercial gambling centre of $200m and for other casinos, $100m. A grace period involving five phases, over 15 years, has been approved for existing casinos to meet these requirements, and involves five phases over 15 years. The decree defines ‘capital’ as a casino’s current assets, including shareholder funds in the company and other property, and excludes noncurrent assets and prepaid expenses of unsecured credit companies as well as cash advances provided by the company as current assets. 

Cambodian Secretary of State Mey Vann said that the new requirements are in response to economic growth levels and geared to improve management of the Cambodian casino sector, in accordance with the Law on the Management and Integrated Resorts and Commercial Gambling passed in November 2020. Casinos that are unable to meet the new capital requirements will not be issued new business licenses.