Despite the previously failed attempts to establish a gambling market, Mongolia is forming a special group to draft their gaming bill. The country is attempting to tap into Asia’s lucrative gambling business and in this way boost tax revenue, reports local press.
A few days ago the Judicial Standing Committee gave the green light to create a government’s special team that will take care of drafting legislation that would authorise casino resorts. This has been done following the intentions to legalise Mongolia’s gambling industry expressed in November last year. The government’s group will be leaded by L. Enkhbold, Member of the Parliament.
It‘s a second attempt to legalise casino resorts in Mongolia. In 2012 the bill was submitted and received a lot of support. However, the plan to establish a gambling market did not work out.
This time the model proposed in the legislation is based on the practices used in Vietnam, South Korea or Combodia. That means that Mongolian citizens would be forbidden to gamble in casinos. All these countries are currently enforcing foreigner-only policies, where only foreign nationals are allowed to gamble in casino resorts.
Casinos are planned to be established near Mongolia’s borders with Buryatia and Kyakhta in Russia, China, also in international airports in Mongolia’s capital Ulan Bator.
Under the new bill, Mongolia will establish two casinos for tourists that are expected to generate MNT 74-130 billion in tax revenue annually.
