Cambodia’s government reaped a bumper tax crop from its land-based casino industry in 2016, primarily by putting the squeeze on top operator NagaCorp.
According to Cambodia’s Finance Ministry, the government’s share of Cambodia’s casino revenue came to $48m in 2016, over 38% higher than the $34.7m the state earned from casino taxes in 2015. At the end of 2016, the Ministry said there were 77 valid casino licenses, of which 65 were currently operational.
In its 2016 annual report that was released last month, NagaCorp revealed that it had anted up an additional $16.5m in payments last year after reaching agreement with the government over back taxes on the company’s non-gaming revenue.
NagaCorp, which operates NagaWorld (pictured), the only casino in Cambodia’s capital Phnom Penh, also said the company had agreed to boost its monthly gaming obligation to the state from $365k per month to $411k.