Cambodia Revokes Casino Licences Amid Ties to Prince Group CEO
Phnom Penh, Cambodia – The Cambodian government has moved to revoke several Cambodia casino licences, citing their connections to Chen Zhi, the influential head of Prince Group. This action follows allegations of illegal online gambling operations targeting Chinese nationals. The Ministry of Economy and Finance confirmed the revocations, impacting entities linked to the prominent developer.
Direct Links to Chen Zhi’s Enterprises
The Ministry of Economy and Finance issued a directive to provincial and municipal officials regarding the immediate cessation of casino activities by specific companies. These include Oriental Sumbeizhi Company and the Cambodia-China Cultural Industrial Park, both identified as having ties to Chen Zhi. Multiple other unnamed companies also saw their licenses withdrawn. These businesses were allegedly involved in criminal online gambling operations. The government’s decision underscores its ongoing commitment to stamping out illicit activities within the gaming sector.
A History of Scrutiny and Sanctions
This latest action is not an isolated incident but rather part of a broader crackdown. Chen Zhi and his Prince Group have faced significant scrutiny in recent years. In November 2023, authorities raided several businesses linked to Chen Zhi in Phnom Penh. These raids were part of an investigation into online gambling. Earlier in April 2023, law enforcement in Sihanoukville arrested 54 individuals. These arrests were related to an online gambling ring that lured Chinese investors with promises of high returns. The operation was accused of extortion and other crimes.
Further, the United States Treasury Department sanctioned Chen Zhi in 2021. The sanctions were for alleged corruption and money laundering. The Treasury highlighted his involvement in the illicit activities of Prince Group and the Cambodia-China Cultural Industrial Park. It noted that Chen Zhi used these entities to secure approvals for development projects through bribery. His activities were deemed to pose a substantial risk to Cambodia’s economy and its anti-money laundering efforts. The revocation of these Cambodia casino licences aligns with international pressure to clean up the country’s financial systems.
Cambodia’s Ongoing Battle Against Illegal Gambling
Cambodia banned online gambling in 2019. This ban came amidst growing concerns over crime, money laundering, and human trafficking. The government’s recent moves demonstrate its continued resolve. It aims to enforce this ban and reform its casino industry. The crackdown targets operations that exploit foreign nationals and undermine national security. This initiative also seeks to restore the country’s reputation. It hopes to become a legitimate investment destination, free from the shadows of illicit gaming.
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