Published
CasinoFinancialLegal & Regulatory

Sri Lanka to set up casino body

Sri Lanka’s Committee on Public Finance plans to set up a casino regulatory body following discussions held in parliament over the weekend.

SriLanka
Listen To Article

The country's media unit commented on the matter, saying: “The Committee discussed the regulations under the Casino Business (Regulation) Act No 17 of 2010, where the members of the Committee thought that it would be best to consider the approval after making it more effective for the development of the country.”

According to the Committee's Chairman, Harsha de Silva, it is not possible to grant a casino licence in any country without a regulatory body in place. 

However, as per some officials, there is no provision to operate a casino apart from the tax paid to the Inland Revenue Department. As a preliminary step, they have taken measures to issue licences.

In July 2022, Sri Lanka’s Government agreed to issue new casino licences, saying that a 2010 law regulating casinos required such licences, but none had been issued.

In Sri Lanka’s capital, Colombo, there are currently four casinos operating, and reports indicate that the committee is unsure how much tax has been collected from the operators over the years.

If such a regulatory body is established and new casino licences are granted, casino operators will pay their relevant taxes, while businesses could apply for a licence in multiples of five years – with fees paid up-front.

Meanwhile, in Asia, 10 local men have been arrested for football gambling activities in Johor, Malaysia. 

Aged between 22 and 43, the suspects are believed to be football bookies, according to State Police Chief Datuk Kamarul Zaman Mamat. 

 


Asia News Sponsor
Premium+ Connections
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium Connections
Consultancy
Executive Profiles
Crown Melbourne
Resorts World Las Vegas
Crown Melbourne
Global Gaming Women
Svenska Spel
Follow Us

Facing facts: Nevada vs Macau

How is the Nevada gaming market faring against Macau? Gambli...

Taking stock: Kicking off 2025

Gambling Insider tracks online casino operator and supplier...

Responsible gambling: Who is morally, practically and legally responsible?

Within the ethical complexities of gambling, how much onus f...

Account limits: Legality and fairness in the UK

Paul Sculpher, Director of GRS Recruitment and regular Gambl...

Analysing sports betting data from the Australian Open

Sports betting supplier Betby provides Gambling Insider with...

Company profile: Digitain

Discover Digitain: BUILT TO LEAD iGaming Solutions....

Company profile: DS Virtual Gaming

For two decades, DS Virtual Gaming has been at the forefront...

Exploring X Games' move to sports betting

Gambling Insider’s Megan Elswyth speaks to X Games CEO Jer...