Sri Lanka to establish Gambling Regulatory Authority

Sri Lanka’s Cabinet of Ministers has given the go ahead to proceed with the drafting of a bill related to the establishment of a Gambling Regulatory Authority.

On 26 June, 2023, the then-Cabinet of Ministers had approved the establishment of a Gambling Regulatory Authority as an independent establishment with a broad and complete subject arena to standardize gambling institutions, minimize social damage, promotion of tourism sector and ensure economic growth.

The Legal Draftsman has informed that the concurrence of the current Cabinet of Ministers is sought to continue the process of drafting bills.

Accordingly, the proposal submitted by the President, in his capacity as the Minister of Finance, Planning and Economic Development, to grant the policy approval of the Cabinet of Ministers for formulating the said draft bill with immediate effect, has received the Cabinet approval.