Sri Lanka's Parliamentary Public Finance Committee has endorsed the bill to establish the "Gambling Regulatory Authority," paving the way for its legislation. This agency will operate independently, unify the management of gambling venues nationwide, enhance tax collection and transparent governance, prevent illegal gambling, and promote tourism and economic growth.
The bill was announced in May this year under the direction of President and Minister of Finance, Planning, and Economic Development, Anura Kumara Dissanayake. The Gambling Regulatory Authority will be responsible for regulating casino operations, collecting gambling taxes, and implementing good governance principles to reduce social harm.
This month, Sri Lanka's first large-scale integrated resort casino, City of Dreams Sri Lanka, opened in Colombo. It is a joint investment by Melco Resorts & Entertainment Ltd and the local John Keells Group Plc, attracting a large number of Indian tourists.
The government hopes that with the establishment of the regulatory body, it can enhance the tourism appeal while ensuring the healthy development of the gambling industry within the legal framework, prevent the spread of illegal activities, and protect social and public interests.
