Sri Lanka’s Committee on Public Finance (CoPF) has issued a sharp rebuke over the significant lack of progress in passing legislation to properly regulate the country’s rapidly expanding casino industry.
The committee expressed strong dissatisfaction with the proposed Gambling Regulatory Authority (GRA) Bill, deeming it insufficient, and accused both the Finance Ministry and the Attorney General’s Department of critical failures and missed deadlines.
Dr. Harsha de Silva, the influential chair of the CoPF, stated that the committee has consistently advised successive governments to seek out international expertise from jurisdictions with robust and established regulatory frameworks, such as Singapore.
However, he lamented that these urgent recommendations have not been taken seriously by officials, leading to a prolonged legislative stalemate.
The issue has been thrust back into the spotlight following the recent high-profile opening of the City of Dreams integrated resort, which was granted a 20-year casino license.
This approval was given during Ranil Wickremesinghe’s presidency, despite the CoPF’s explicit prior recommendation that no new licenses be issued until a competent regulatory body was firmly in place.
The CoPF detailed a history of unmet commitments, noting it had pushed the Finance Ministry to fund the creation of the GRA first by September 2023 and then by a revised deadline of March 2024, with neither target being met.
The committee also directed heavy criticism at the Attorney General’s Department for the “inordinate” 15-month period it took to review the bill, calling for systemic changes to prevent such delays in the future.
Sri Lanka’s casinos continue to operate under outdated laws, including the Casino Business (Regulation) Act of 2010, for which key regulations have never been formally issued.
