Cambodia has had a particularly hard time pulling in investors, especially considering it’s competing with such stiff competition within the southern region of Asia. Recently The Voice of America shared that through reforms being currently implemented within the legislation, Cambodia is slowly but surely becoming more and more attractive to gambling investments.
A part of the reforms that are highly anticipated is a 4 or 5% tax rate on physical land-based casino facilities within the country. There is, at the current point in time, 65 casinos in Cambodia, however, the country’s main spot is Naga World Entertainment, which is a company originating from Hong Kong China.
The relaxed reforms for Chinese visitors to Cambodia have caused a flood of Chinese citizens and public officials who are eager to avoid the anti-corruption glare of President Xi Jinping, according to Ben Reichel. Ben Reichel is the executive director of Donaco International, an Australian organization.
The Purpose Behind These Reforms
Cambodia’s niche for Chinese tourists is by no accident. a key aim for Cambodia is to have at least a third if not the vast majority of their tourists be Chinese citizens and with such ample gambling reforms this looks like it could easily become a reality. However, it is not only China that Cambodia wants to secure as a key source of tourism.
Cambodia recognizes the newly found influence of its many neighbors and therefore would also like to attract tourists from Malaysia, Thailand, and Indonesia. There are many top predicative companies that feel that Cambodia will overtake the Philippines as the main spot for iGaming Capital in Southeast Asia.
Recently Inside Asia Gaming shared that the structurally sound legislature in Cambodia and the lack of regulating legislation and frameworks within the Philippines have contributed to ensuring Cambodia has the number one spot for investors. Cambodia is coming out on top.
The director at Ha Tien Vegas Casino, Rhys Jones, commented that the Cambodian government is filled with a rather welcoming frame of mind when it comes to gambling, in comparison to some of its other Southeast Asian counterparts. This is very different to how things are being managed over in the Philippines where the government recently closed down several gambling facilities.
With so many investors looking for stability and a strong sense of certainty, the last thing they want to hear is that casinos and other gambling companies are being shut down by the government. Hence, why Cambodia is definitely the place to invest in gambling-related ventures at the moment.