The Sri Lankan cabinet has approved a proposal to establish a regulatory body for the country’s expanding gaming industry. The plan will now be submitted to parliament for final approval.
In February, Sri Lanka’s cabinet approved a draft bill to create a Gambling Regularisation Authority.
According to a notice published in the Government Gazette on 21 April, the new authority would serve as the sole independent regulator with wide-ranging oversight of the country’s gambling industry. This includes land-based casinos, online gambling, offshore betting, sports wagering, and gambling operations on ships.
Minister Nalinda Jayatissa stated that the planned authority would serve as “the sole national regulator with a broad mandate.”
The cabinet-approved bill has received the green light from the attorney general and is now set to be presented to parliament for final approval.
Sri Lanka gaming on the rise
The Daily Financial Times reports that Sri Lanka’s Committee on Public Finance has consistently pushed for a dedicated regulatory body to formalize gaming laws and ensure industry compliance.
The proposed regulator would be responsible for overseeing licensing, taxation, anti-money laundering efforts, and implementing standardized measures to tackle problem gambling. MP Harsha de Silva has voiced particular concern that some online gaming operators may be avoiding their regulatory responsibilities.
Currently, Sri Lanka’s land-based gaming industry is confined to a single integrated resort (IR) located in Colombo Port City. In October, Melco Resorts & Entertainment launched Phase 1 of its $1.2 billion (£901 million/€1 billion) City of Dreams Sri Lanka resort within the city’s special economic zone.
Phase 2—which will feature the country’s first casino—is scheduled to open in the third quarter of 2025. The government recently awarded Melco a 20-year gaming license for the project.
