Content Writer: Janice Chew • Monday, 26/02/2026 - 15:44:58 - PM
Cambodia’s casino industry posted a solid recovery in 2025, with gross gaming revenue climbing 14% year-on-year to US$72 million, according to reporting from the Commercial Gambling Management Commission (CGMC). The growth reflects continued normalization following pandemic disruptions and the steady return of cross-border traffic, particularly in border hubs such as Poipet and Bavet. However, the positive revenue momentum comes alongside intensified regulatory action that underscores Phnom Penh’s tightening oversight of the sector.
The CGMC, formally known as the Commercial Gambling Management Commission of Cambodia, has been actively reshaping the industry framework since the country enacted its new Law on the Management of Integrated Resorts and Commercial Gambling. Authorities have emphasized stricter compliance, enhanced reporting standards, and stronger enforcement mechanisms as part of efforts to improve international confidence in Cambodia’s gaming governance environment.
At the same time, regulators revoked five casino licenses over alleged links to a cyber-fraud network associated with controversial businessman Chen Zhi. The move signals a clear message: revenue growth will not come at the expense of regulatory integrity. Cambodia has faced increasing international scrutiny in recent years over online scams and illicit activities operating under the guise of gaming operations, prompting authorities to accelerate cleanup efforts within the licensed casino ecosystem.
From a structural standpoint, Cambodia’s gaming market remains heavily dependent on foreign patronage, particularly from neighboring Thailand and Vietnam. Major operators such as NagaCorp Ltd, which runs the flagship NagaWorld complex in Phnom Penh, continue to anchor the capital’s integrated resort segment, while smaller properties dominate border provinces. The dual narrative of revenue expansion and license revocation suggests a market in transition — one balancing growth with compliance recalibration.
Industry observers note that Cambodia’s regulatory tightening aligns with broader regional trends. Across Southeast Asia, governments are increasingly focused on anti-money laundering enforcement, cross-border digital fraud prevention, and enhanced transparency requirements. For Cambodia, maintaining growth while removing problematic operators may strengthen long-term sustainability, even if short-term license reductions temporarily compress supply.
Ultimately, 2025 presents a mixed but strategically important chapter for Cambodia’s casino sector: a 14% revenue increase demonstrates underlying demand resilience, while decisive regulatory action indicates a more mature governance posture. If enforcement continues alongside measured expansion, Cambodia could gradually reposition its gaming industry from a high-risk frontier market toward a more structured and credible regional destination.