Sri Lanka has set a target date of 30 June 2026 to formally establish its new gaming regulator, the Gambling Regulatory Authority (GRA), following parliamentary discussions this week.
According to a report by local news aggregator Newswire, the deadline was agreed by the Finance Ministry and the Department of Inland Revenue during a meeting of the Committee on Public Finance (COPF).
Among the key reasons outlined for implementing a relatively swift timeline was the absence of any system to collect tax revenues from online operators. Officials revealed during the meeting that between 60% and 70% of casino users in Sri Lanka now play online, with only 30% to 40% attending physical casinos.
It was noted that six casino licenses have been issued for land-based casinos but online casino operations remain unregistered and untaxed, the report stated.
Officials also noted that Sri Lanka would be reviewed next year by the Financial Action Task Force (FATF) on anti-money laundering and counter-terrorism financing compliance, so establishing the GRA would go a long way towards satisfying expectations.
Sri Lanka’s Gambling Regulatory Authority Bill was recently passed by the Sri Lankan parliament – repealing the previous Horse Racing Betting Ordinance, Gambling Ordinance and Casino Ordinance.
The bill establishes a formal gambling regulator tasked with the collection of gambling-related revenue, ensuring transparency and good governance in gambling operations, and preventing illegal gambling activities.
The Sri Lankan cabinet also recently approved a proposal in the country’s 2025 budget that will see the betting levy increased and casino entry fee for locals doubled.
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