Taxes From Casinos Rise 15 Percent in 2014

Cambodia’s casinos paid out a total of $25 million in taxes from gaming revenue in 2014, a 15 percent jump from the previous year, an official at the Ministry of Finance said Tuesday.

The additional $4 million paid into government coffers came during a year in which the number of casinos operating in the country rose from 55 to 59, according to Ros Phirun, spokesman for the ministry.

“The tax revenue from casinos has increased because last year, more visitors came from Thailand to casinos in Poipet as a result of the new Thai government closing [Thai] casinos,” he said.

Mr. Phirun said the government expects a 12.5 percent year-on-year increase in tax revenue from casinos in 2015, as cross-border traffic continues to grow.

“More Thai people are expected to come to our country to gamble this year, so there will be more revenue from casinos, which is why our projection is higher,” he said, explaining that the government had only expected to see an 8 percent increase in 2014.

Poipet is consolidating its reputation as a regional casino hub.

The latest high-profile acquisition there was announced in January by Donaco International, which is expected to wrap up a $360 million deal for the Star Vegas Resort and Club in April.

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