Cambodia's Regulatory Hammer Falls
Cambodia’s Commercial Gambling Management Commission (CGMC) has taken decisive action against a network of casinos connected to Chinese national Chen Zhi, the alleged head of the massive Prince Group. In a move signaled by regulatory advisor Chhoeng Chantha, the government body revoked the licenses of four casinos and suspended another, citing their direct ties to Zhi's business alliance, according to a CGMC statement. The action underscores a significant shift in Cambodia's approach to regulating its once-booming casino sector.
The impacted casinos include Jinbei Casino, Jinbei 4, and GC Casino in the coastal city of Sihanoukville, along with Golden Fortune in the Kandal province. A fifth establishment, Casino Khom in Kampot, has had its license suspended pending further review. This follows Chen Zhi's arrest in Cambodia in January 2026 and subsequent deportation to China, as reported by international news agencies.
Follow the Money: Who is Chen Zhi?
Before his arrest, Chen Zhi was a powerful and politically-connected figure in Cambodia. His company, Prince Group Holdings, is reportedly behind a vast, global 'pig-butchering' online fraud empire that, at its peak, was alleged to have generated as much as $30 million per day, based on investigative reports.
These scams typically involve criminals using fake online profiles to build relationships with victims over weeks or months, eventually persuading them to invest in fraudulent cryptocurrency or other schemes. The complexity and scale of Zhi's alleged operations were immense. Jacob Sims, a transnational crime expert, offered this perspective in an academic journal:
"Chen Zhi isn’t a mob boss as we traditionally conceive of them. He is (or rather was) the polished face of a state-protected criminal economy."
His influence was bolstered by deep political ties. Media reports indicate Zhi traveled with former Prime Minister Hun Sen and even held a Cambodian diplomatic passport, a privilege that provided him with significant freedom of movement and a veneer of legitimacy. This case peels back the layers on how corporate structures can be used to obscure criminal enterprises, making it difficult for players and partners to know who is really behind the curtain.
A Wider Net Against Cyberfraud
This license revocation isn't an isolated event. It's a key part of Cambodia’s wider offensive against the rampant cyberfraud industry that has taken root within its borders. Between January and February 2026 alone, Cambodian authorities shut down 190 separate scam operations, a figure which includes 44 gaming halls being used as fronts, a government spokesperson announced.
The scale of this illicit industry is staggering, with the UN Office on Drugs and Crime estimating the regional cyberfraud economy to be worth $40 billion annually in a recent report. The UN body has commended Cambodia's recent efforts to dismantle these networks.
But the problem has a severe human cost. Human rights organizations like Amnesty International have urged for a deeper investigation into all known scam compounds, citing evidence from a published investigation of trafficked workers from as many as 66 different countries being forced to work in these operations under brutal conditions. This adds a grim dimension to the financial crimes being perpetrated.
Analysis: What This Means for Due Diligence
The fall of Chen Zhi's casino-linked empire serves as a critical case study for players and the iGaming industry. It's a stark reminder that a casino's license is only as reliable as the regulator that issues it and the integrity of the operator behind it. For years, these operations hid in plain sight, backed by corporate complexity and political connections.
What can players learn from this? Never take ownership for granted. The first question before making a deposit should always be: who owns this platform, and where are they incorporated? Tracing corporate ownership, as difficult as it can be, is a fundamental step in vetting any gaming site. When an operator's structure is opaque, like at Prince Group, it's a major red flag.
This event reinforces the value of transparent, data-driven platforms where operator history and community trust are paramount. The Cambodian crackdown shows that regulatory environments can and do change, and operators with questionable backgrounds can find their permissions revoked overnight, leaving players exposed.
