Cambodia Revokes Casino Licences Amid Sanctions Scrutiny
The Cambodian government has moved to revoke casino licences from several operators. This action targets establishments in Sihanoukville and Koh Kong. The decision follows alleged ties to US-sanctioned magnate Chen Zhi and his Prince Group.
Prime Minister Hun Manet’s Council of Ministers initiated the process. The Ministry of Economy and Finance was tasked with identifying the properties. These measures underscore Cambodia’s commitment to combating illicit activities.
Allegations and International Pressure
Chen Zhi, Chairman of the Prince Group, faces sanctions from the US Treasury Department. These sanctions highlight accusations of serious crimes. These include human trafficking, money laundering, and cybercrime. The US government imposed these sanctions in December 2022.
The Prince Group is a prominent Cambodian conglomerate. Its diverse interests span real estate, banking, and aviation. The group has operated extensively within Cambodia. Its alleged connections to illicit activities have drawn international scrutiny.
Properties Affected by Cambodian Casino Licence Revocations
According to government directives, five casinos are under review. Four of these establishments are located in Sihanoukville. The fifth casino is situated in Koh Kong province.
The government’s order specified a focus on casinos associated with Chen Zhi. It specifically named those with “Prince” in their branding. These establishments are now subject to licence revocation. This marks a significant development in the nation’s gaming sector.
A History of Enforcement
This latest action aligns with Cambodia’s broader anti-crime efforts. In 2020, the government introduced a ban on online gambling. This move aimed to curb related illicit activities. Many operators subsequently ceased their operations.
The ban led to a substantial reduction in the online gambling industry. It also impacted foreign investment, particularly from China. Despite the ban, concerns persisted regarding illegal operations. The current crackdown signals a renewed push for compliance. It also reflects a response to international pressure regarding financial transparency.
The Ministry of Economy and Finance will continue to oversee the process. They are responsible for implementing the revocations. This development could reshape Cambodia’s casino landscape significantly. It emphasizes the government’s stance against criminal enterprises.
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