Sri Lanka’s cabinet has approved the establishment of a specialised body to oversee the fast-growing RMG sphere. The corresponding document has already been submitted to the local parliament for discussion and signing.
Details of the Ongoing Legislative Initiative
In February 2025, the South Asian country’s ministers approved a project to create a Gambling Regularisation Authority. According to a notice from the government dated April 21st, the new body will be the only independent supervisor with comprehensive powers on the island.
The organisation will manage the following web and offshore niches:
- sports betting;
- ship-based gaming;
- physical establishments.
The draft bill has already been inked by the state’s Attorney General, Parinda Ranasinghe Jr.
Sri Lanka’s Regulated Market: Expectations
The country’s Committee on Public Finance has repeatedly proposed creating a specialised gambling authority.
The signing of the project will solve legal problems and allow for:
- standardising measures to deal with gaming-caused social issues;
- improving the security and transparency of the taxation system on the island;
- increasing the effectiveness of programs to combat fraud and money laundering;
- implementing a unified monitoring system for licensing operators and software providers.
Currently, the RMG industry in the state is limited to a sole integrated leisure complex, City of the Dreams Sri Lanka, located in Colombo Port City’s special economic zone. In October 2024, the Melco Resorts & Entertainment corporation received permission to build a casino within the retreat centre.
The new gambling facility will be funded by about $1.2 billion and is scheduled to open in the 3rd quarter of 2025. The legal rights are confirmed by the fact that earlier this year, the government issued a 20-year certification to Melco.
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