Cambodia’s long-awaited new gambling law is reportedly ready to be submitted to the government’s cabinet for approval later this month.

On Tuesday, the Khmer Times quoted Ros Phearun, deputy director-general of Cambodia’s Finance Ministry’s financial industry department, saying the gambling draft law – which has been promised for over three years now – had been finalized by joint technical teams at both the Finance and Interior ministries, paving the way for cabinet to receive the finished results within the month.

Phearun suggested that cabinet officials weren’t likely to raise any serious objections to the law’s text, given that it was prepared following “many inter-ministerial and stakeholders’ meetings” and therefore incorporates “lots of inputs from all concerned ministries and parties.”

As previously suggested last October, the draft law is believed to call for a gambling revenue tax of between 4% and 5%, roughly comparable to the rate imposed on Singapore’s two integrated resorts. This would be a better fate than the 5% to 7% rate originally anticipated by Tim McNally, chairman of Cambodia’s largest casino operator NagaCorp.