The Cambodian Ministry of Economy and Finance revealed that the country’s gaming tax revenue plummeted by 53% year-on-year in 2020, falling from US$85 million (HK$660 million) to US$40 million (HK$310 million), according to local media reports
The gaming industry in Cambodia has been badly affected since the outbreak of the pandemic. Last year, all casinos in Cambodia were suspended for several months due to the outbreak. Only 7 to 8 casinos remained in operation, leading to a drastic decrease in gambling tax revenue in 2020.
In addition, Cambodian Prime Minister Hun Sen issued a ban on online gaming in August 2019, banning all online gambling activities from 2020. This is also considered to be one of the reasons for the decline in gambling tax revenue.
According to local media in Cambodia, the annual tax revenue target of the Cambodian Internal Revenue Service this year is about USD1.97 billion, which is 15% less than last year’s target.