Sri Lanka moves to form gambling regulator

In February, cabinet members approved a draft bill that would establish a Gambling Regularisation Authority in the island nation.

Per a notice published on 21 April in the Government Gazette, the authority would “function as the sole independent regulator with a broad and overarching scope on operations” in Sri Lanka. That includes online and off‑shore gambling including sports betting, ship-based gambling and land-based operations.

Minister Nalinda Jayatissa said the proposed authority will be “the sole national regulator with a broad mandate”.

The attorney general has signed off on the cabinet bill, which now goes to parliament for approval.

Sri Lanka gaming on the rise

According to the Daily Financial Times, the Sri Lanka Committee on Public Finance has repeatedly called for a dedicated authority to codify the rules around gaming and ensure compliance.

The regulator would oversee licensing, taxation and anti-money laundering safeguards and standardise measures to address problem gambling. MP Harsha de Silva has expressed special concern that online gaming providers may be skirting their obligations. 

The land-based sector is now limited to a single integrated resort (IR) in Colombo Port City. Last October, Melco Resorts & Entertainment opened Phase 1 of a new $1.2 billion (£901 million/€1 billion) IR, City of Dreams Sri Lanka, in the city’s special economic zone.

Phase 2, which includes Sri Lanka’s first casino, is to open in the third quarter of 2025. Last month, the government granted Melco a 20-year gaming licence.