The Gambling Regulatory Authority Bill was passed in Parliament with amendments today (19) following its Second Reading Debate.
The draft legislation, gazetted in May under the directives of President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning and Economic Development, provides for the establishment of a Gambling Regulatory Authority while repealing the Horse Racing Betting Ordinance, the Gambling Ordinance, and the Casino Ordinance.
Once endorsed by the Speaker of Parliament, the Bill will come into effect as the Gambling Regulatory Authority Act.
The Authority will function as an independent body with a wide mandate, including:
-
Collecting gambling-related revenue
-
Ensuring transparency and good governance in gambling operations
-
Preventing illegal gambling activities
-
Standardising betting and gaming establishments in Sri Lanka
-
Minimising social harm while contributing to tourism development and economic growth
The Bill received the approval of the Committee on Public Finance on August 12, after being reviewed on multiple occasions.
