Involved in the degradation of (+)-camphor. Catalyzes the lactonization of 2-oxo-delta(3)-4,5, 5-trimethylcyclopentenylacetyl-CoA (OT-CoA), a key intermediate in the metabolism of camphor. 2-Oxocyclopentyl ethyl acetate is also a good substrate, as is 2-oxocyclohexyl ethyl acetate and methyl-substituted cyclohexanones, but free acid is a poor substrate. [(1R)-2,2,3-trimethyl-5-oxocyclopent-3-enyl]acetyl-CoA + H(+) + NADPH + O2 = [(2R)-3,3,4-trimethyl-6-oxo-3,6-dihydro-1H-pyran-2-yl]acetyl-CoA + H2O + NADP(+) Binds 1 FAD per subunit. Optimum pH is 9. Optimum temperature is 20 degrees Celsius. Terpene metabolism; (R)-camphor degradation. Homodimer. Induced by (+)-camphor and 2-oxo-delta(3)-4,5,5-trimethylcyclopentenylacetic acid. Belongs to the FAD-binding monooxygenase family.