Draft law on casino is to be submitted to Parliament of Mongolia

If adopted, the law will regulate the creation of casinos in Mongolia according to global standards, permitting their operations with certain extent of state monitoring and will define the system and means of state monitoring over casinos. The law initiators said that the draft was developed in light of realizing the tourism sector’s goal to produce up to 14 percent of Mongolia’s GDP by 2020.

Casino businesses will intensify the development of the tourism sector and promote the stability of the currency flow, initiators considered. According to statistics, Mongolia ranks 99th among 140 countries of the world in competitiveness of tourism and stands at number 19 among 25 countries of the Asia-Pacific region. Mongolia hosted more than 400 thousand tourists in 2013 and the sector generated the revenue of 260 million USD by making up 5.3 percent of the 2013 GDP.