News Today: Gambling Regulatory Authority Bill passed in Parliament strengthens Sri Lanka’s gambling oversight

The Gambling Regulatory Authority Bill was passed in Parliament with amendments, marking a major milestone in Sri Lanka’s gambling and betting industry. The Bill went through its Second Reading debate yesterday, and after incorporating key amendments, it was passed in the Third Reading.

The draft bill, originally gazetted in May under the directives of President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning and Economic Development, seeks to establish a new Gambling Regulatory Authority.

The legislation repeals outdated frameworks such as the Horse Racing Betting Ordinance, the Gambling Ordinance, and the Casino Ordinance. Once endorsed by the Speaker of Parliament, the Bill will formally come into effect as the Gambling Regulatory Authority Act.

The new Authority will function as an independent regulatory body with a broad mandate. Its primary responsibilities include regulating gambling establishments, ensuring transparency in operations, collecting gambling-related revenue, and preventing illegal gambling activities. Importantly, the Authority will also play a role in reducing social harm associated with gambling, while supporting Sri Lanka’s tourism and economic development.

The Bill had previously been approved by the Committee on Public Finance on August 12th after several rounds of discussions. Members emphasized the importance of having a robust and transparent system to regulate gambling in line with international standards.

By establishing the Gambling Regulatory Authority, Sri Lanka aims to bring structure to its gaming industry, curb illegal activities, and unlock new streams of government revenue. The move also seeks to attract more foreign investment into the tourism sector, given the global demand for regulated gaming and entertainment services.

The passage of this Bill represents a critical step toward modernizing Sri Lanka’s gambling industry, ensuring accountability, and positioning the country for economic growth.