Cambodian Prime Minister Hun Sen unveiled the reasons the government ended all kinds of online gambling, pointing out to low taxes and social issues.
“Online gambling gives us low taxes, but brings about many issues like crime and money laundering,” the premier spoke in a Tuesday meeting with 40 Chinese investors with their first name “Hun”, held at the Peace Palace Phnom Penh.
“Even though the kingdom adheres to free market regime, her economy does not depend on gambling. We prefer major investment on various sectors,” he continued.
It is worth noting that in late August 2019, the Royal Government ordered to stop all forms of online gambling by the end of 2019, according to a press release from the Council of Ministers.
“All types and forms of online gambling in Cambodia are illegal and must entirely stop by 2019,” it said.
The press release underlined that Cambodia needs to develop the economy based on cultural and natural tourism services rather than relying solely on online gambling revenue.
The decision also aims to stop foreign criminals from conducting online frauds and kidnapping, which affected national security and social order.