Asia

Tax Revenue from Cambodia’s Casino Sector Drops 53% in 2020

Published

4 years ago

March 23, 2021

Niji Narayan

Tax Revenue from Cambodia’s Casino Sector Drops 53% in 2020

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Cambodia Ministry of Economy and Finance Deputy Director Ros Phirun has revealed that tax revenues collected from Cambodia’s casino industry fell about 53% in 2020.

Tax revenues had been about US$85 million for the full year 2019, but this number plummeted to US$40 million in 2020.

“As we’re all too well aware, the Covid-19 epidemic began in late 2019 and persists to this day. It’s pulverized all economic sectors, and the casino industry has sustained a crippling blow as well. Practically all of our casinos ceased operation in 2020, with only just seven or eight left scrambling to keep their businesses afloat. That’s why our revenue collection has dropped so much,” Ros Phirun said.

All of the kingdom’s casinos had been ordered to suspend operations between April and August last year as a measure to combat the spread of the coronavirus.

Prime Minister Hun Sen’s August 2019 decision to ban online gambling by the end of that year is also cited as a contributing factor to the sharp decline in tax revenues.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.