(TimeOut)

Sri Lankan Parliament Urgently Establishes Regulatory Body for Gambling Industry

The Committee on Public Finance (COPF) in the Sri Lankan Parliament has expressed concerns regarding the delayed establishment of a regulatory body for the gambling industry. Initially committed by the government to be created by December 31, 2023, the COPF has summoned the Director General of Fiscal Policy to provide a report on both brick-and-mortar and online casinos, along with tax data. The regulator is also required to present a strategy for debt collection from operators.

Emphasizing the necessity of creating a gambling regulator, the COPF leadership highlighted the importance of attracting investments and recovering substantial lost revenues. The committee underscored that the absence of industry management results in significant financial losses for the government. The new deadline for establishing the supervisory body is now March 31.

19 February 2024, 19:45

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