^{Pictured: Anura Kumara Dissanayake, President of Sri Lanka}

Sri Lanka is moving forward with plans to establish a centralized Gambling Regulatory Authority, according to a report by GGR Asia.

The initiative, backed by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning, and Economic Development, aims to overhaul the country’s outdated gambling oversight framework. As per the government’s draft bill, the new regulator will function independently and carry broad enforcement powers.

Its responsibilities will include monitoring legal gambling operations, enforcing transparency and integrity reforms, and cracking down on illegal gambling activity — including online and offshore betting conducted on ships and within the Colombo Port City.

The bill, which received cabinet approval on April 21, proposes repealing three legacy laws: the Horse Racing Betting Ordinance, the Gambling Ordinance, and the Casino Ordinance. These acts — some of which have been in place for decades — are seen as inadequate for today’s complex gambling environment.

If passed by Parliament, the legislation will be enacted as the Gambling Regulatory Authority Act. The government expects the measure to modernize oversight, help prevent financial crimes such as money laundering, and create a more structured revenue stream from the gaming sector.