Sri Lanka is preparing to update its gambling laws with a new bill aimed at creating a new Gambling Regulatory Authority. Supported by President Anura Kumara Dissanayake as Minister of Finance, Planning, and Economic Development, the draft legislation is intended to provide more structure and oversight to the gaming sector.
Once approved by Parliament, the bill will replace three outdated laws: the Horse Racing Betting Ordinance, the Gambling Ordinance No. 17 of 1889, and the Casino Ordinance. These laws, some of which are decades old, are considered outdated in today’s digital and globalized gambling landscape.
Following the approval of the draft on April 21, a Cabinet statement noted that the Authority would be the sole independent regulator with a broad scope over gambling operations in Sri Lanka. This includes online and offshore gambling on ships and in the Colombo Port City, aiming to ensure accountability, curb illegal activities, and increase tax revenue from gambling.
The Attorney General has cleared the bill for submission, and it is prepared for parliamentary debate. In addition to regulatory reform, major developments in the casino sector are underway. Melco Resorts & Entertainment Ltd plans to open a new venue as part of the City of Dreams Sri Lanka project in Colombo, expected to launch in the third quarter of 2025. Through its subsidiary Bluehaven Services (Private) Ltd, Melco has obtained a 20-year casino license effective from April 1, 2024. The company is investing $125 million into the casino component of the $1 billion resort complex led by Sri Lankan conglomerate John Keells Holdings Plc.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com