Gambling Regulatory Authority Bill in P’ment tomorrow
A Bill to establish a Gambling Regulatory Authority in Sri Lanka, to regulate casino operations, has been approved by the Committee on Public Finance and is expected to be tabled in Parliament tomorrow, Finance Ministry officials said.
The Bill, which was discussed on several occasions in the Committee on Public Finance, and provides for the establishment of the Gambling Regulatory Authority (GRA), coincides with the opening of Melco Resorts & Entertainment’s casino at City of Dreams Sri Lanka, the first integrated resort project in South Asia, earlier this month.
GRA, a dedicated agency to supervise and license both physical and online gambling operations, with the regulation of junket operators, will be an independent body responsible for licencing and regulating all gambling activities, including casinos and online platforms, while focusing on social harm minimisation, tourism development, and economic growth.
The authority aims to ensure compliance with regulations, stop money laundering, and maintain safety standards. Next year, Sri Lanka is set to begin its third Mutual Evaluation on the Anti-Money Laundering and Countering the Financing of Terrorism framework, coordinated by the Asia Pacific Group on Money Laundering. The evaluation requires technical compliance with the Financial Action Task Force’s 40 recommendations and their effective implementation. Officials said that one of the recommendations is to set up the GRA.
Gaming in Sri Lanka is regulated under several key legal frameworks, including the Gaming Ordinance of 1889, the Casino Business (Regulation) Act of 2010, and the Betting and Gaming Levy of 1983.
The Gaming Ordinance criminalises illicit gaming, levying fines and imprisonment as penalties. The Casino Business Regulation (CBRA) was created to license and oversee casino operations, outlining a casino as any venue where games for stakes are played, notwithstanding payment.
The Casino Business Licensing Regulation No. 1 of 2022, which outlines a detailed licensing process, requires existing operators to apply for a licence within 60 days and mandates renewal applications six months before licence expiration.
The licensing fee is set at Rs. 500 million for a five-year term and imposes strict bookkeeping and employee requirements, prohibits various unlawful activities within casinos, and restricts entry and participation in gaming for individuals below 21 years of age. This comprehensive framework aims to ensure the lawful and responsible operation of casinos in Sri Lanka.
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