Involved in the degradation and assimilation of (+)-camphor, which allows P.putida strain NCIMB 10007 to grow on this enantiomer of camphor as the sole carbon source (PubMed:3944058, PubMed:8515237). Catalyzes the FMNH(2)-dependent lactonization of 2,5-diketocamphane via a Baeyer-Villiger oxidation to produce the unstable lactone 5-oxo-1,2-campholide with (R,R) configuration, that presumably undergoes spontaneous hydrolysis to form 2-oxo-Delta(3)-4,5,5-trimethylcyclopentenylacetate (PubMed:3944058). Is also able to convert (+)-camphor and norcamphor to the corresponding lactone in vitro (PubMed:8515237, PubMed:21906366, PubMed:23524667). Shows no conversion of (-)-camphor, (+)-fenchone, (-)-fenchone, and (+)-nopinone (PubMed:23524667). Acts only on bicyclic ketones; is not active towards monocyclic ketones, aromatic ketones, the aliphatic 2-decanone, 1-indanone and progesterone (PubMed:21906366). (1R,4R)-bornane-2,5-dione + FMNH2 + O2 = (1R,4R)-5-oxo-1,2-campholide + FMN + H(+) + H2O Optimum pH is 7.5. Terpene metabolism; (R)-camphor degradation. Homodimer (PubMed:3944058, PubMed:8515237, PubMed:23524667). Likely forms a loose transient complex with a P.putida flavin reductase that provides the required FMNH(2) to the enzyme (PubMed:3944058, PubMed:8515237, PubMed:23524667). By both (-)-camphor and (+)-camphor enantiomers. Belongs to the bacterial luciferase oxidoreductase family.