IMF Calls Cambodia’s Casino Ownership Safeguards Deficient and Urges Urgent Reform

The International Monetary Fund has called for Cambodia to urgently strengthen casino licensing and ownership checks, warning that current safeguards do not adequately prevent criminals or illicit funds from entering the sector.

The International Monetary Fund has identified significant weaknesses in Cambodia’s casino licensing framework and urged authorities to strengthen checks on casino owners, beneficial owners and sources of investment funds.

In its 2026 Article IV report, published on September 28, the IMF described both Cambodia’s legal framework for preventing criminals from owning or controlling casinos and the actual vetting process as “deficient”, saying the shortcomings should be addressed quickly.

Under the Law on the Management of Commercial Gambling, shareholders holding at least 10% and senior managers are required to demonstrate good reputation, honesty and integrity. However, the IMF said the Commercial Gambling Management Commission of Cambodia (CGMC) currently does not go much further than reviewing criminal-record certificates submitted by applicants.

The Fund recommended introducing robust fit-and-proper tests for beneficial owners, shareholders and directors, while requiring the regulator to verify the lawful origin of funds before granting casino licences. It described the absence of such safeguards across casino, banking and payment-sector licensing as a significant financial-integrity vulnerability.

The timing is particularly important because the IMF expects most existing Cambodian casino licences to come up for renewal around 2027, creating an opportunity to reassess operators under stronger requirements. The report also calls for greater information sharing between regulators and more risk-based AML/CFT supervision.

Cambodia has already intensified enforcement against casinos linked to criminal activity. Authorities reported in September that licences of 18 casinos connected to online scam operations had been revoked, while nine others were suspended pending further investigation. More than 600 locations linked to suspected online scams have also been targeted nationwide.

The regulatory pressure increased further on October 1, when the government reiterated that all forms of online gambling and online betting are prohibited nationwide. Authorities said 24 casinos in Preah Sihanouk, Banteay Meanchey and Svay Rieng had stopped online gambling operations after the September 30 deadline.

The IMF recommendations therefore arrive as Cambodia is already reshaping oversight of its casino sector. The 2027 renewal cycle could become a key turning point, with operators potentially facing significantly deeper scrutiny of ownership structures, funding sources and links to other high-risk businesses.