With 10+ years in tech, crypto, gaming, and finance, Raz has written across a multitude of platforms, covering both crypto and gambling news. He specializes in content on iGaming, sports betting, and crypto trends, particularly...
Read Full BioThe Sri Lanka Cabinet has approved the publication of the Gambling Sports Regularization Act in the Government Gazette on Monday, 21 April.
This marks a formal move toward establishing a regulatory framework focusing on the country’s gambling sector.
The result is the creation of a Gambling Regulatory Authority — a new agency in charge of regulating both online gambling and floating, offshore, and land-based casinos.
The Act is now awaiting approval from the Sri Lankan parliament, one of the last obstacles before it becomes law.
President Anura Kumara Dissanayake, who also serves as the Minister of Finance, Planning, and Economic Development, proposed the Gambling Sports Regularization Act.
The proposal was first presented during a Cabinet meeting on 24 February. Since then, the Attorney General has cleared it. Its publication in the Government Gazette marks the start of the formal legislative process.
What the New Gambling Regulatory Authority Will Oversee in Sri Lanka
The new Gambling Regulatory Authority would oversee all forms of gambling in the country, with special attention on activities in Colombo Port City. This new area lies on the western edge of the nation’s capital, Colombo.
The area consists of large-scale infrastructure projects, including newly built casinos. As such, creating a gambling authority is considered a crucial step toward ensuring responsible gambling practices.
Sri Lanka has long had concerns about unregulated betting. Creating a new regulatory framework could also help close any existing loopholes currently being exploited. Simultaneously, it would satisfy the demand for regulated gambling, which offers the country considerable economic opportunity.
Officials believe a dedicated authority would help create a safer gambling environment and ensure that gambling practices mirror international standards.
How New Casino Developments Shaped the Push for Regulation
The creation of the Gambling Regulatory Authority is particularly crucial in light of the creation of the City of Dreams.. This is one of many initiatives touted by the government as part of a mammoth project looking to revive high-end tourism in the country.
It will contain a land-based casino currently being developed by Melco Resorts & Entertainment Ltd in the southeastern part of Colombo Port City. The casino will open in Q3 2025 and be a major player in the nation’s growing gambling market.
