{"id":575,"date":"2025-04-24T14:10:03","date_gmt":"2025-04-24T14:10:03","guid":{"rendered":"http:\/\/www.anselledmont.com\/?p=575"},"modified":"2025-04-24T21:50:43","modified_gmt":"2025-04-24T21:50:43","slug":"sri-lanka-takes-major-step-towards-gambling-industry-regulation","status":"publish","type":"post","link":"http:\/\/www.anselledmont.com\/index.php\/2025\/04\/24\/sri-lanka-takes-major-step-towards-gambling-industry-regulation\/","title":{"rendered":"Sri Lanka Takes Major Step Towards Gambling Industry Regulation"},"content":{"rendered":"

The post Sri Lanka Takes Major Step Towards Gambling Industry Regulation<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n

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Regulation in the cards<\/h2>\n

Sri Lanka has taken a major step towards gambling industry regulation in Asia\u2019s oldest democracy.<\/p>\n

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bill to be tabled in parliament for debate and final approval<\/p>\n<\/blockquote>\n

Earlier this week, the Sri Lankan Cabinet approved the publication of the draft for a Gambling Sports Regularisation Act in the government gazette, which allows the bill to be tabled in parliament for debate and final approval.<\/p>\n

If Sri Lanka\u2019s parliament gives the nod, the Act would usher in a new Gambling Regulation Authority responsible for licensing, oversight, and enforcement across multiple gambling verticals.<\/p>\n

In his weekly post-Sri Lanka Cabinet meeting press briefing, Minister Dr. Nalinda Jayatissa revealed the long-awaited bill\u2019s progress after it was approved by the Attorney General.\u00a0<\/p>\n

Cabinet Spokesperson Jayatissa told the media the sole-entity regulator would be an independent body with broad powers to oversee and regulate all gambling-related verticals in Sri Lanka, including offshore, onshore, and online activities.<\/p>\n

Regulation means revenue<\/h2>\n

Minister Jayatissa stated the proposed national regulator would have a \u201cbroad mandate, covering areas such as offshore gambling sports on ships and in the Colombo Port City, online gambling platforms and offshore casinos.\u201d<\/p>\n

According to Sri Lanka\u2019s national daily business newspaper, the big push towards streamlining gaming and betting laws comes\u00a0\u201camid growing concerns around unregulated gaming and betting.\u201d<\/a><\/p>\n

Daily FT <\/em>cited ongoing calls to successive governments by the Committee on Public Finance to fast-track a regulator in order to avoid \u201cmajor loss of revenue to the State coffers.\u201d<\/p>\n

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booming iGaming industry remains largely untouchable<\/p>\n<\/blockquote>\n

The CoPF has stressed that despite the government receiving tax from retail casinos, the booming iGaming industry remains largely untouchable, and has demanded swift action to bring iCasino operators and activities under the financial oversight of a national regulator.\u00a0<\/p>\n

Broad mandate<\/h2>\n

According to the draft, the regulatory body would issue and renew operator licences, set and monitor technical, operational standards, and anti-money laundering, know-your-customer rules. The regulator would also oversee responsible play measures including wagering limits and self-exclusion registers.\u00a0<\/p>\n

Under its enforcement remit, the regulator can sanction inspections, impose administrative penalties, freeze or revoke licenses, and hear appeals against such decisions.<\/p>\n

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Act will supersede multiple older laws<\/p>\n<\/blockquote>\n

According to reports, the Gambling Sports Regularisation Act will supersede multiple older laws and establish regulatory procedures for \u201cboth domestic and foreign operators seeking to serve Sri Lankan customers.\u201d<\/p>\n

The post Sri Lanka Takes Major Step Towards Gambling Industry Regulation<\/a> appeared first on Vegas Slots Online News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The post Sri Lanka Takes Major Step Towards Gambling Industry Regulation appeared first on Vegas Slots Online News. Regulation in the cards Sri Lanka has [Read More…]<\/a><\/p>\n","protected":false},"author":1,"featured_media":550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[],"_links":{"self":[{"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/posts\/575"}],"collection":[{"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/comments?post=575"}],"version-history":[{"count":1,"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/posts\/575\/revisions"}],"predecessor-version":[{"id":576,"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/posts\/575\/revisions\/576"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/media\/550"}],"wp:attachment":[{"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/media?parent=575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/categories?post=575"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.anselledmont.com\/index.php\/wp-json\/wp\/v2\/tags?post=575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}