Sri Lanka’s Cabinet of Ministers has approved a 2025 budget proposal to increase by 3 percentage points to 18 percent, the country’s betting and gaming levy, and to double to US$100, the casino entry fee applicable to its own citizens. That is according to local media outlets, citing Tuesday remarks from cabinet spokesman Nalinda Jayatissa.
The move comes six weeks after the country opened its first international-standard integrated resort with casino, City of Dreams Sri Lanka. The property, managed by global casino business Melco Resorts and Entertainment Ltd, is in the capital Colombo.
Under the government’s budget proposal, a gross collection levy – a percentage charged on the total turnover or receipts generated from the business of a bookmaker or gaming operator – is to be increased to 18 percent from the current 15 percent. The casino entry levy for Sri Lankan citizens is to be raised to US$100, from the current US$50.
The present 15-percent gross collection levy – payable on a monthly basis – applies on monthly gross collection amounts exceeding LKR1 million (US$3,314.7), according to the current guidance from Sri Lanka’s Inland Revenue Department.
The proposed betting and gaming levy increase is to be part of an amendment bill applicable to the country’s Betting and Gaming Levy Act. The amendment legislation is subject to parliamentary approval, reported local media outlets, citing Tuesday remarks from Mr Jayatissa, who is also Minister of Health and Mass Media. He was speaking to reporters following a cabinet meeting.
In August, Sri Lanka’s parliament passed the Gambling Regulatory Authority Bill. The legislation enables the setting up of a Gambling Regulatory Authority and allows for repeal of some existing measures.
