Insight
CAMBODIA MdME Lawyers
Rui Pinto Proenca, Managing Partner, MdME
Rui Pinto Proença is Managing Partner of MdME Lawyers and head of the firm’s Corporate and M&A practice. He specializes in mergers and acquisitions and also focuses on the gaming sector where he regularly acts for gaming companies in Macau and across Asia-Pacific region assisting government in emerging markets developing their gaming policies and regulatory frameworks. Rui is the global chair of the Lex Mundi Gaming Solution, a network of law firms covering over 25 gaming jurisdictions around the world and a member of the Board of Trustees of the IAGA.
www.mdme.com.mo rpp@mdme.com.mo
If played right, the LMCG could in fact play a role. Admittedly designed to foster economic growth, tourism promotion and job creation, the LMCG stands as an investor-friendly legislation, at least when compared to other regulatory frameworks in the region. Below we take a look at its most relevant features.
On July 3, the Council of Ministers of the Royal Government of Cambodia passed long-awaited legislation governing its gaming industry. Te draft bill - Law on the Management of Integrated Resorts and Commercial Gambling (LMCG) – is now pending for approval by the National Assembly and the Senate.
In the making for almost nine years, the timing of the LMCG’s approval could hardly have been less auspicious… With the global gaming industry coming to a halt, investments in new or emerging markets, most notoriously in Japan, are being reconsidered. Against this background, it is hard to imagine that the LMCG could start paving the way to attract the international gaming operators the Kingdom is keen to welcoming.
We do, however, live in interesting times. Te introduction of travel restrictions has further politicised the cross-border movements of people. Benefiting from strong political relations with China, the Kingdom could be well placed to welcome outbound tourism from the world’s largest market, as soon as public health normalises.
If played right, the LMCG could in fact play a role. Admittedly, designed to foster economic growth, tourism promotion and job creation, the LMCG stands as an investor-friendly legislation, at least when compared to other regulatory frameworks in the region. Here we take a look at its most relevant features.
P36 NEWSWIRE / INTERACTIVE / MARKET DATA
Governing Scope – the LMCG applies to the management and operation of integrated-resorts, land-based casinos, online gaming and other forms of wagering, pursued with commercial purposes within the territory of the Kingdom of Cambodia. Although online gaming and sports betting fall within the LMCG’s purview, the specifics of their licensing and operations are left for subsequent regulation.
Zoning – one of the most interesting features of the LMCG is the fact that it divides the Kingdom into three gaming zones: (1) a Prohibited zone; (2) a Promoted zone; and a (3) Favoured zone. All areas that are not qualified as Promoted or Favoured are, by default, Prohibited zones. In such areas, the operation of gaming is not allowed under any circumstances or form. In a predominantly Buddhist country, the creation of gaming-free areas is particularly important to safeguard respect for sacred sites, the most notorious of which is Angkor Wat, in the province of Siem Reap.
Te Promoted zones are located in the coastal provinces of Sihanouk and Koh Kong and include its adjacent islands. Tese are the only areas where new
Law on the management of IR and commercial gambling
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