Summary
A draft bill aiming to create the Gambling Regulatory Authority in Sri Lanka has been officially gazetted. This move, initiated by President Anura Kumara Dissanayake, sees the bill prepared to be presented in Parliament, establishing an independent regulator for the gaming industry. The legislation will not only repeal existing ordinances but also empower the authority to tackle issues like tax collection and criminal activities related to gambling.
As it stands, Sri Lanka has six legal casinos, and the establishment of this regulatory body comes amidst concerns over tax evasion by operators due to a lack of oversight.
Key Points
- Draft bill for the Gambling Regulatory Authority has been gazetted in Sri Lanka.
- The bill aims to establish an independent regulator for the gaming industry.
- It will repeal the Horse Racing Betting Ordinance, Gambling Ordinance, and Casino Ordinance.
- The authority will oversee casino tax collection and combat criminal activities linked to gambling.
- Sri Lanka currently has six legal casinos, with potential expansions on the horizon.
Why should I read this?
If you’re interested in the gaming industry or regulatory developments, this article is a must-read. Sri Lanka is taking significant steps towards formalising its gambling oversight, and this could have major implications for operators and customers alike. Stay ahead of the curve by understanding these changes!