The Sri Lankan cabinet has approved the creation of a new regulatory body to oversee the country’s expanding gambling sector.
The proposal will now move to parliament for final approval. Back in February, cabinet members endorsed a draft bill to establish the Gambling Regularisation Authority.
According to a government notice published on April 21, the new authority will act as Sri Lanka’s sole independent regulator, overseeing all forms of gambling, including online and offshore betting, shipboard casinos, and land-based operations. The Daily Financial Times reports that the Sri Lanka Committee on Public Finance has consistently advocated for such a body to clarify gaming laws and enforce compliance.
The regulator will manage licensing, taxation, anti-money laundering protocols, and policies to address problem gambling. MP Harsha de Silva has raised concerns about online gambling operators potentially avoiding their regulatory duties.
Currently, Sri Lanka’s land-based gambling is confined to one integrated resort (IR) located in Colombo Port City. In October, Melco Resorts & Entertainment launched the first phase of its $1.2 billion City of Dreams Sri Lanka resort in the area’s special economic zone. The second phase, featuring Sri Lanka’s first casino, is set to open in Q3 2025. The government recently awarded Melco a 20-year gaming license.
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