The Sri Lankan cabinet has approved the publication of a bill draft in the Gazette, aimed at establishing an agency called the "Gambling Regulatory Authority." This agency will regulate various forms of online gambling, shipboard gambling, and the so-called "offshore casinos" in the Colombo Port City area.
The decision about the Gambling Regulatory Authority was made after a cabinet meeting. According to a statement released by the Government Information Department, this bill, known as the "Gambling Sports Standardization Bill," still needs to be approved by the country's parliament.
An official statement from the Cabinet Affairs stated that the agency will be responsible for "monitoring activities related to gambling sports in Sri Lanka, including shipboard and offshore gambling sports activities in Colombo Port City, as well as online gambling sports."
Sri Lankan news media Economynext quoted Cabinet spokesperson, Minister Nalinda Jayatissa, reporting that the new agency will also regulate domestic casinos.
The cabinet approved this legal draft on February 24. Subsequently, the procedure was approved by the National Attorney General and was presented by Sri Lankan President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning, and Economic Development.
Colombo Port City is a reclaimed land area on the western edge of Sri Lanka's capital, Colombo. According to the Colombo Port City website, the main developer of this port area is China Harbour Engineering Company Ltd., which has invested $1.4 billion.
According to local media, existing casinos in Sri Lanka are governed by official regulations covering licensing and entry fees, rather than a specific parliamentary act.
Melco Resorts & Entertainment Limited will manage a land-based casino in Sri Lanka's Dream City, a $1 billion real estate development project in the southeastern part of Colombo Port City, created by John Keells Holdings Plc.
The parent company of Melco Resorts & Entertainment, Hong Kong-listed Melco International Development Limited, stated in documents submitted in March that Sri Lanka's Dream City "is expected to commence operations in the third quarter of 2025," at which time it will operate under a 20-year license that took effect on April 1 of last year.
Earlier this year, the Sri Lankan government announced a series of measures in its 2025 budget plan, including doubling the entry fee for the country's casinos from $50 per person to $100. Additionally, the government announced a plan to raise the business tax on gambling venues from 15% to 18%.
