Sri Lankan parliament approves Gambling Regulatory Authority Bill
The new law establishes an independent body to regulate the nation’s casino and betting sector.
Sri Lanka.- The Gambling Regulatory Authority Bill has received parliamentary approvement with amendments, paving the way for the creation of a new independent body to regulate Sri Lanka’s gambling industry. Once endorsed by the parliamentary speaker, the law will come into force as the Gambling Regulatory Authority Act, repealing existing ordinances on horse racing betting, gambling and casinos and consolidating oversight under a single framework.
The new regulator will be tasked with licensing casinos, collecting gambling-related revenue, curbing illegal gambling and ensuring transparency and good governance. Deputy economic development minister Anil Jayantha Fernando told lawmakers the body will also play a key role in addressing money laundering risks linked to gaming operations.
The bill passed with amendments, following approval earlier this month by the Committee on Public Finance, which added foreign exchange regulations. During parliamentary debates, opposition legislators urged the government to adopt stronger mechanisms to regulate online gambling, highlighting concerns over its potential social impact.
Authorities expect the new Gambling Regulatory Authority to balance economic development with social safeguards, standardising the industry while positioning Sri Lanka as a destination for regional tourism, particularly targeting visitors from neighbouring India. There will be a US$50 entry fee for locals wishing to access casinos, a measure aimed at mitigating social harm.
