The Sri Lankan government is moving forward with plans to establish a regulatory body for its emerging gaming sector, with the initiative now awaiting parliamentary approval.
In a significant decision made in February, cabinet members endorsed a draft bill intended to create a Gambling Regularisation Authority in the country. This law aims to bring structure and oversight to the gambling landscape in Sri Lanka.
A notice issued on April 21 in the Government Gazette outlined the authority’s role as the primary independent regulator in the nation, with a comprehensive mandate covering all forms of gambling, from online platforms and offshore operations to sports betting, maritime casinos, and land-based establishments.
Minister Nalinda Jayatissa emphasized that this authority will function as the country’s sole regulator, equipped with extensive authority over gaming operations.
With the approval of the attorney general, the proposed legislation will soon be presented to parliament for further deliberation.
### The Growth of Gaming in Sri Lanka
As reported by the Daily Financial Times, the Sri Lanka Committee on Public Finance has consistently advocated for the establishment of a dedicated regulatory body to define gaming regulations and ensure compliance within the sector.
This new regulator is set to oversee various aspects of the gaming industry, including licensing, taxation, and anti-money laundering protocols, while also implementing measures to combat problem gambling. MP Harsha de Silva has voiced concerns over potential non-compliance issues among online gaming providers.
Currently, the brick-and-mortar gambling scene in Sri Lanka is restricted to a single integrated resort located in Colombo Port City. Last October marked the opening of Phase 1 of the $1.2 billion City of Dreams Sri Lanka, developed by Melco Resorts & Entertainment within the city’s special economic zone.
The second phase, which will introduce the nation’s first casino, is scheduled for launch in the third quarter of 2025. Recently, the government approved a 20-year gaming licence for Melco, signaling its commitment to bolstering the country’s gaming industry.