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Sri Lanka Plans New Gambling Regulator
Friday April 25, 2025 2:51 AM
In a significant step toward formalizing the country's gambling industry, Sri Lanka's cabinet approved a draft bill in February to create a dedicated Gambling Regularization Authority. The proposed body would serve as the island nation's sole independent regulator for all gambling activities, both online and land based.
According to a notice published in the Government Gazette on 21 April, the authority will have a broad mandate covering sports betting, offshore gambling, ship based operations, and traditional casinos. Minister Nalinda Jayatissa emphasized that the regulator would function as the central body overseeing all gambling related activities in Sri Lanka.
The draft bill has already received approval from the attorney general and is now set to be presented to parliament for final approval. If passed, the legislation would mark a major shift in how gambling is regulated in the country, bringing previously fragmented oversight under a single authority.
The push for a dedicated regulator comes amid growing concerns over unregulated online gambling and the need for stronger anti money laundering measures. The Sri Lanka Committee on Public Finance has repeatedly called for a unified regulatory framework to ensure compliance and proper taxation within the industry.
MP Harsha de Silva has raised particular concerns about online gaming operators potentially evading financial obligations. The proposed authority would address these issues by standardizing licensing procedures, enforcing taxation policies, and implementing safeguards against problem gambling.
Currently, Sri Lanka's land based gambling sector is limited to a single integrated resort in Colombo Port City. Melco Resorts & Entertainment launched the first phase of its $1.2 billion City of Dreams Sri Lanka project last October, with a casino set to open in 2025 as part of the second phase. The government recently granted Melco a 20year gaming license, signaling its commitment to developing the sector under regulated conditions.
The establishment of a centralized gambling authority could pave the way for further expansion of the industry while ensuring tighter controls. Observers suggest that the move aligns with broader economic reforms aimed at attracting foreign investment and boosting tourism.
As the bill moves through parliament, stakeholders will be watching closely to see how the new regulatory framework shapes the future of gambling in Sri Lanka.
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