Following the issuance of an arrest warrant and the freezing of domestic assets by Thai police for Cambodian nobleman Kun Sorn, Thai public opinion has once again focused on another heavyweight figure from Cambodia—Ly Yong Phat, known as the "King of Lords." This casino magnate, who spans both political and business spheres, is gradually stepping into the center of the regional gambling storm.
Ly Yong Phat was born in Kampong Speu Province, Cambodia. As a youth, he fled to Tak Province in Thailand to escape the war and successfully obtained Thai nationality (Thai name Phat Suphapha). After the war, he returned to Cambodia and, with a keen sense for border opportunities, heavily invested in real estate and gambling projects in Kampong Speu Province, creating the "Kampong Speu International Resort" and establishing the LYP Group. His business spans agriculture, energy, hotels, tourism, and gambling, forming an industrial empire that covers hundreds of kilometers along the Cambodia-Thailand border.
His political background is equally profound, having served as a trusted advisor to former Prime Minister Hun Sen and current Prime Minister Hun Manet, with close ties to Hun Sen and having been awarded a noble title for many years, making him a key figure in the core political and business circles of Cambodia. However, the winds are changing. In 2024, the U.S. Treasury Department listed four of his hotels on the sanctions list, accusing them of involvement in online fraud and illegal detention activities, claiming that some facilities were used as hubs for telephone scams. Despite strong protests from the Cambodian Ministry of Foreign Affairs, accusing the U.S. of "misleading public opinion," Ly Yong Phat's international reputation has clearly been damaged.
Recently, Thailand has also become alert to his infiltrative power along the border. Ly Yong Phat's casino projects are just across the river from Tak Province in Thailand, and his gambling network poses a "spillover of gray forces" pressure on Thailand. Analysts believe that following the crackdown on Kun Sorn, Thailand is systematically scrutinizing the cross-border arrangements of Cambodian elites, with this focus on Ly Yong Phat possibly being an extension of the cleanup operation.
Although the LYP Group has repeatedly publicly denied any illegal activities, emphasizing that all business activities are legal and compliant, and refusing the labels of "underhanded dealings" and telephone scams, under pressure from multiple parties, Ly Yong Phat's "border kingdom" is being pushed to the forefront of controversy. As the struggle between Thailand and Cambodia to clean up gray industries intensifies, every move by Ly Yong Phat touches sensitive nerves.
Will Thailand take further legal or financial measures against him? Can Ly Yong Phat maintain his commercial footholds along the Cambodia-Thailand border? In this complex chess game involving sovereignty, cash flows, and power struggles, no party dares to take it lightly. This storm is just beginning.
