Sri Lanka drafts bill to form new gambling regulatory authority
Legislation aims to improve governance, prevent illegal activities and streamline oversight.
Key points:
– Draft bill introduced under President Anura Kumara Dissanayake’s leadership as finance minister
– Bill proposes repealing outdated gambling laws and forming a centralised regulatory body
– Authority to focus on transparency, revenue collection and eliminating unlawful operations
As reported by The Island, the Sri Lankan Government has drafted a bill to establish a Gambling Regulatory Authority, marking a significant move toward overhauling the country’s approach to gambling regulation.
The proposed Authority is intended to operate independently and will be empowered with a broad mandate. It will oversee legal gambling operations, implement reforms to ensure integrity and transparency in the sector, and prevent illicit practices linked to gambling.
The bill has been introduced under the direction of President Anura Kumara Dissanayake, who also serves as the Minister of Finance, Planning and Economic Development. If passed, it will repeal three existing laws: the Horse Racing Betting Ordinance, the Gambling Ordinance and the Casino Ordinance. These laws, some of which date back several decades, are considered outdated in the context of modern regulatory needs.
Cabinet gave its approval to proceed with the new framework during its meeting on 21 April. Once debated and passed in Parliament, the bill will become law as the Gambling Regulatory Authority Act.
Good to know: The move reflects broader efforts by the government to tighten controls over gambling-related revenues and improve enforcement capacity in light of growing concerns over unregulated betting
The new Authority is expected to play a central role in monitoring all forms of gambling across the country, introducing modern compliance measures and ensuring operators meet legal and financial obligations.
The Government also anticipates the reform will help generate more structured income from the sector and deter money laundering and other abuses.
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