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Cambodia’s gaming law draft ready for cabinet this month

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Cambodia’s overdue gaming law update ready for cabinet

A gaming law that would regulate Cambodia’s casino sector is to be presented in draft form to the country’s cabinet before the end September, reports a local newspaper.

The news outlet cited the source of the information as Ros Phearun, a senior official of that country’s Ministry of Economy and Finance. The official indicated one aim was to attract a greater amount of international investment in Cambodia’s gaming industry.

The 2017 International Narcotics Control Strategy Report from the United States’ Department of State, issued in March, said Cambodia’s non-financial sectors, “including – most significantly – the gaming and real property industries,” were “unregulated or under-regulated”. Industry analysts have told GGRAsia that such an assessment from the U.S. federal government would make it hard currently for U.S.-listed casino companies to invest in Cambodia.

According to the newspaper, the proposed law authorises the government to set up a body to review casinos’ internal financial controls and promote the prevention of money laundering and prevention of other criminal activities.

Reports of imminent casino regulation have been circulating for several years. In June 2014, the Phnom Penh Post newspaper had reported that a draft of what it termed a “national casino law” was to have been finalised that year.

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Currently, licences and the terms of such licences are issued by the authorities on a case by case basis.

Mr Phearun indicated that on the present occasion it was unlikely that any further significant delays would occur in expediting legislation.

“There would not be delays at the cabinet-level for the approval of the draft law because we have incorporated lots of inputs from all concerned ministries and parties,” said the official as quoted by the Khmer Times. The draft law which was finalised by joint technical teams from the Ministry of Economy and Finance and the Ministry of Interior will now be submitted to the government’s cabinet within this month,” -said  Mr Phearun.

Another aspect of the new law is said to be regulation of casino taxation.

Cambodia’s government collected US$48 million in levies from the country’s casino industry in 2016, a year-on-year increase of 40 percent, reported the Khmer Times in March.

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According to the news outlet, the new legislation is expected to outline a gambling tax of between 4 percent and 5 percent of total gaming revenue.

We really need to get this law off the ground fast because it will help us manage the industry better and also collect taxes. In addition, it will also attract more big investors into the industry and also bring in tourists,” the newspaper quoting Mr Phearun.…

The post Cambodia’s gaming law draft ready for cabinet this month appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.


Source: EEGaming.

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Bradley Khoury

eCOGRA Approved to Operate in Arizona, Indiana and Panama

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eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.

This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.

Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.

In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.

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“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.

Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”

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BetConstruct

BetConstruct to Showcase Latest Innovations at G2E Las Vegas 2024

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BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.

As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.

Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.

BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.

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Amusnet

Amusnet Sets the Stage for Global Gaming Excellence at G2E Las Vegas

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Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.

“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.

Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.

Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.

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