The Cambodian government expects to rake in more than 16 million U.S. dollars in tax revenues this year from the 24 casinos operating legally in Cambodia, an increase of nearly 20 percent over last year's revenues, local media reported on Friday.

"I firmly believe that the casino industry will generate increasing revenues and boost economic growth," the Cambodia Daily quoted Finance Secretary of State Chea Peng Chheang as saying.

According to official statistics, taxes collected by Cambodian government from casinos last year amounted to 13 million U.S. dollars, exceeding the 2006 budget's target for collections by 500, 000 U.S. dollars.

Since 1999, an Interior Ministry order has restricted casino entry to foreigners to prevent Cambodian members of the public from sinking into debt. The Cambodian government continues to manage the industry with caution, Chea Peng Chheang said.

"We are not encouraging the casino industry, but government policy is not to stop investment in casinos if investors are asking for it," he added.

The number of casinos in Cambodia has grown by seven in less than two years to a total of 24, and the industry currently employs 12,000 Cambodians, he said.

Source: Xinhua