Cambodia Casino Corruption Risks For US Businesses Detailed in Washington Warning

The Biden administration has told US companies to steer clear of Cambodia and its casinos.

A joint business advisory warning (BAW) from the US State Department, US Treasury Department, and the US Department of Commerce highlighted “growing systemic corruption” in the country. And it warned that US companies place themselves at risk of exposure to “entities and sectors potentially involved in human rights abuses, criminal activities, and corrupt business practices” by investing in Cambodia.

“The deteriorating human rights situation in Cambodia, combined with increased and widespread corruption in the financial, real estate, casinos, and infrastructure development sectors, pose significant challenges in Cambodia for investors,” read the BAW.

Cambodia’s casino sector has exploded in recent years, largely thanks to Chinese investment in the country. Many of the new casinos are in Sihanoukville, on the country’s west coast. Formerly a sleepy seaside town, Sihanoukville has been transformed into an adult playground for Chinese tourists.

In full: https://www.casino.org/news/washington-warns-us-businesses-of-cambodia-casino-corruption-risks/

© 2021, All rights reserved.