The draft bill to establish a Gambling Regulatory Authority in Sri Lanka was gazetted on Tuesday under the directive of the country’s President Anura Kumara Dissanayake, in his capacity as minister of finance, planning and economic development.
Once approved in the nation’s parliament, the draft bill will come into effect as the Gambling Regulatory Authority Act.
Sri Lanka’s Cabinet of Ministers had approved in late April the draft bill, according to a government statement.
It said the Gambling Regulatory Authority is “to function as the sole independent regulator with a broad and overarching scope on operations in the gambling industry in Sri Lanka, including online and off‑shore gambling activities on ships and in the Colombo Port City”.
The April announcement said clearance from the country’s attorney general had “been received” for the bill to be drafted.
“Accordingly, the proposal made … to publish the Gambling Regulatory Authority Bill in the Government Gazette and submit the same thereafter, to parliament for approval, was approved by the Cabinet,” it stated.
The regulator will be tasked with collecting gambling-related tax revenue, ensuring “transparency and good governance” in gambling operations, and preventing illegal gambling activities, among other duties, according to the bill.
The new legislation will also introduce changes to the Betting on Horse-Racing Ordinance, the Gaming Ordinance, as well as repeal the Casino Business (Regulation) Act.
Global casino promoter Melco Resorts & Entertainment Ltd will soon launch a casino venue in a complex in Colombo, the Sri Lankan capital.
The casino at City of Dreams Sri Lanka is “on track to open in the third quarter of 2025”, according to recent comment by Lawrence Ho Yau Lung, chairman and chief executive of Melco Resorts.
The gaming firm is an investor in the casino portion of the US$1-billion Sri Lanka resort complex, which was created by John Keells Holdings Plc. Melco Resorts had previously mentioned it would spend US$125 million as its contribution toward the casino resort.
The Sri Lanka government granted a casino licence to Bluehaven Services (Private) Ltd – a wholly-owned subsidiary of Melco Resorts – to operate casino business at City of Dreams Sri Lanka for a term of 20 years with effect from April 1, 2024.
