Cambodia’s ban on online gambling is expected to hit government tax revenue next year, the Khmer Times reported, citing minutes from a meeting with Finance Minister Aun Pornmoniroth.
Casinos generated $50 million in revenue in 32-18 and 2019, the minutes said. It gave no indication of the size of the decline.
Phnom Penh banned online gambling in August following pressure from Beijing and rising gambling-related crime.
The report cited Finance Ministry spokesman Meas Soksensan as saying the ministry plans to offer more opportunities for foreign investors in other sectors to generate more revenue.
“We want more investors who are willing to invest in other fields such as development and economics,” he said. “We do not want them to invest in online gambling.”
The report also cited Ros Phearun, a deputy director-general of the Finance Ministry’s financial industry department as saying Cambodia has now issued 215 casino licenses, mostly in Preah Sihanouk province.