Prince Group Casinos: Why Cambodia Pulled 18 Licences

Cambodia has now cancelled the licences of 18 casinos and suspended about ten more, after the US and UK named the Prince Group as a criminal network in October 2025. Many of those casinos carry names that also appear in US and UK sanctions releases. A casino licence was never proof that the money behind it was clean, and that matters most to ordinary players. Below: what Prince Group is, according to the governments that targeted it, how casinos fit into scam money, a 13-month timeline, and what it means for you.

What is Prince Group, according to the governments that targeted it?

On paper, Prince Holding Group is a Phnom Penh conglomerate in real estate, finance and entertainment. The US government describes it very differently.

• US Treasury: On 14 October 2025, the Office of Foreign Assets Control (OFAC) sanctioned 146 targets in what it calls the Prince Group Transnational Criminal Organization. It says the group ran at least ten scam compounds in Cambodia. It names Jin Bei Group as “a luxury hotel and casino company” and lists “illegal online gambling” among the alleged crimes.
• US Justice Department: The same day, prosecutors in Brooklyn charged chairman Chen Zhi with wire fraud conspiracy and money laundering conspiracy. They also filed a civil forfeiture complaint against about 127,271 bitcoin, then worth about US$15 billion. The DOJ called it the largest forfeiture action in its history.
• UK government: The UK sanctioned Prince Group, Chen Zhi, Jin Bei Group and Golden Fortune Resorts World. It froze London property, including a £12 million mansion and a £100 million office block.

The DOJ alleges that scam proceeds were laundered through the group’s own “ostensibly legal” businesses, “including its online gambling and cryptocurrency mining operations.” The DOJ release itself states: “An indictment is merely an allegation.” Chen Zhi has not been convicted of these charges. According to OCCRP, the group called the US and UK allegations “baseless”. Cambodia arrested Chen Zhi and sent him to China in January 2026. The Record reports that the status of his legal case in China is unknown.

Takeaway: Washington and London describe Prince Group as a criminal network with a corporate front, and casinos sit inside that front. Those are government allegations. They have not been proven in court.

Why casinos sit in the middle of scam money

Casinos handle large amounts of cash and chips that change hands quickly. That makes them useful to anyone who needs to make dirty money look like winnings.

The UN Office on Drugs and Crime (UNODC) has warned about this for years. In 2023 it said “casinos and related high cash volume businesses have long served as vehicles for regional underground banking”. It added that online platforms allow “faster anonymized transactions, commingling of funds”. Its January 2024 report, Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia, counted more than 340 land-based casinos in Southeast Asia as of early 2022, as summarised by Asia Gaming Brief. It also described illegal online casinos expanding into cyberfraud.

Put simply, these reports point to three overlapping roles (our summary):

• Cover. A licensed resort gives a compound a legal address, security staff and a reason for hundreds of foreign workers to be there.
• Cleaning. Money from victims can be mixed with gambling turnover, junket credit or crypto, so it is harder to trace.
• Recruitment. OFAC’s June 2026 release says scam centres lure workers by “offering fake technology or customer service jobs at the centers’ connected casinos, resorts, and front companies.”

We have written before about how Macau’s junket collapse pushed VIP money elsewhere. The Prince Group case shows where some of it was alleged to end up.

Takeaway: A casino can be a front, a laundromat and a recruitment poster all at once. That’s why Cambodia’s licence action matters more than one company’s fate.

Timeline: October 2025 to November 2026

We rebuilt this from government releases and named news reports, all opened on 9 November 2026. Where only a trade outlet reported a figure, we say so.

The names repeat. Jin Bei, Jin Bei 4 and G.C. Casino were suspended in November 2025, revoked in February 2026 and appear again in the September list of 18. Golden Fortune and Casino Kchom (also spelled Khom) also appear in both the February action and the September list.

Takeaway: This happened in steps. Foreign sanctions came first, then suspensions, then revocations, then a review of the whole sector.

The numbers, reconciled: 9 or 10 suspended?

Reports don’t agree on one figure. Here is what each source actually says.

Our reading: the most likely explanation is one extra suspension between September and November. A counting difference is also possible. We could not find the government’s own transcript of the 6 November briefing, so the 10 figure rests on the Focus Gaming News report. The same report gives the wider crackdown from 1 July 2025 to 31 October 2026: 972 locations, 568 cases, 5,032 suspects indicted and 23,760 foreigners from 38 countries repatriated.

The wider picture is bigger. At the September review, Hun Manet’s government said it had inspected 195 licensed casinos and that 72 had already stopped operating, according to The Star. It also said no online gambling would be allowed from October. Our explainer on Cambodia’s online gambling ban covers that part.

Takeaway: Use “18 revoked, 9 to 10 suspended” until Cambodia publishes a full list. Treat any article that gives one neat number without a source with caution.

What revocation, suspension and sanctions actually do

These three words get used as if they mean the same thing. They don’t.

The November 2026 Treasury release says Prince Group executives tried to dodge earlier rounds by moving property to relatives, assistants and shell companies. That’s why the new targets include a personal assistant and an executive’s wife. Sanctions don’t arrest anyone. They cut people off from the dollar system and from banks that fear US penalties.

Takeaway: Cambodia controls the licences. Washington and London control access to money. Enforcement only bites when both move.

What it means for you

Most readers will never set foot in a Sihanoukville casino. The risks still reach your phone.

1. Don’t deposit on sites you can’t trace to a licence. When an operator’s licence or banking is cut, an app can freeze withdrawals or vanish overnight. Money on an unlicensed site has no regulator to complain to. Our guide to how casino licences work explains what a real licence check looks like.
2. Treat “casino job” offers in Cambodia as a red flag. US Treasury says scam centres recruit with fake tech and customer-service jobs at connected casinos. Read how Southeast Asia’s scam compounds trap workers and the warning signs of an online gambling job scam.
3. Never lend your bank account. Scam money needs local accounts to move through. Being paid to “receive” funds can make you a money mule. See how the money mule account scam works.
4. Be wary of “recovery” offers. News of frozen funds is a gift to fake agents who promise to get your money back for a fee. Learn the signs of a recovery scam before you reply to anyone.
5. Test yourself. Our free scam quiz takes a few minutes.

Takeaway: The crackdown doesn’t protect your deposits. Your own checks do.

Where to report a scam (verified 9 Nov 2026)

We checked each number on the linked page on 9 November 2026. If someone is in danger, call your local emergency number.

Takeaway: Report fast, and call your bank at the same time. The earlier they hear, the more time they have to act.

FAQ

What are the Prince Group casinos?

They are Cambodian casinos that US, UK or Cambodian authorities have tied to Prince Group or its chairman Chen Zhi. Names include Jin Bei, Jin Bei 4, G.C. Casino and Golden Fortune. Cambodia revoked their licences in 2026.

Has Chen Zhi been convicted?

Not of the US charges. He was indicted in Brooklyn in October 2025, which is an allegation. Cambodia arrested him and sent him to China in January 2026. His legal status there has not been made public, according to The Record.

How many casino licences has Cambodia revoked?

Eighteen, named in a September 2026 statement. Suspensions were 9 in September and 10 in a November briefing as reported by Focus Gaming News. We could not find an official explanation for the difference.

Are online casinos linked to Prince Group still running?

We can’t verify individual sites. US Treasury says the group used online gambling to launder money. Sanctioned or delicensed operators can lose banking without warning, so avoid any site you can’t trace to a licence.

Is a casino job in Cambodia always a scam?

No, but treat offers carefully. US Treasury says scam centres recruit with fake jobs at connected casinos and resorts. Check the employer independently, never hand over your passport, and tell family where you are going.

What do US sanctions mean for ordinary people?

US persons and many banks can’t deal with sanctioned entities. Payments to or through them can be blocked. If an app or site you use is tied to one, your money may get stuck.

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