Cambodia's Casino Revenue Drops 26% Amid Economic Challenges

Revenue Decline in Cambodia's Gaming Sector

First-half Cambodian state revenues derived from duties on casino gaming and gambling fell by 25.8 percent year-on-year to circa US$28 million, according to the Khmer Times, citing information from the country’s Ministry of Economy and Finance. The data, covering the six months leading up to June 30, highlights the challenges faced by the nation's land-based gaming industry.

The largest portion of gaming revenue continues to be driven by NagaWorld, the monopoly casino resort in Phnom Penh operated by Hong Kong-listed NagaCorp Ltd. While NagaCorp reported a robust 2025 profit of around US$310 million and paid over US$43.7 million in gaming tax for the full year of 2025, the firm has yet to release its financial results for the first half of 2026.

Regulatory Crackdowns and Economic Headwinds

The dip in fiscal revenues coincides with a broader tightening of the market, including the closure of 72 Cambodian casinos in recent months amid government crackdowns on illicit scam operations. Despite these closures, full-year 2026 tax revenues from gambling are still projected to reach approximately 117.7 percent of the government's annual target, bolstered by stricter collection controls implemented across casino properties.

Concurrently, the Cambodian Ministry of Economy and Finance downgraded the country's 2026 gross domestic product (GDP) growth forecast to 4.1 percent. Mid-year economic evaluations point to persistent regional conflicts raising fuel prices, border disputes, and the lingering financial fallout from online scam activities as primary challenges slowing down overall economic expansion.