Articles tagged with “srilankagamblingauthority”

Sri Lanka's cabinet has approved a draft bill to create a Gambling Regularization Authority, the nation's first independent gaming regulator. The authority will oversee all gambling operations, including online betting, ship based casinos, and land based venues, according to a notice in the Government Gazette published on 21 April. Minister Nalinda Jayatissa stated the new body will serve as the sole national regulator with broad oversight powers. The attorney general has cleared the bill, which now moves to parliament for final approval. The proposed regulator will handle licensing, taxation, and anti-money laundering measures while addressing problem gambling concerns. Lawmakers have raised alarms about online gaming operators potentially avoiding regulations. Currently, Sri Lanka has only one land based integrated resort, City of Dreams Sri Lanka, operated by Melco Resorts. The $1.2 billion project opened its first phase last October, with a casino set to launch in late 2025. The government recently granted Melco a 20 year gaming license.