Press briefing of Cabinet Decision taken on 2022-07-04

Streamlining the Casino Industry in Sri Lanka

- The Casino Business (Regulation) Act, No.17 of 2010 and the the Betting and Gaming Levy Act, No.40 of 1988 have laid down the provisions to regulate the Casino Industry in Sri Lanka. Even though, licenses should be issued for the operation of Casino industries in Sri Lanka under the Casino Business (Regulation) Act, No.17 of 2010, no licenses have been issued for any casino businesses under the said Act up to now, since regulations to enforce the provisions of the said Act have not been issued so far. Under this circumstance, it has been difficult to collect relevant taxes properly from the institutions currently engaged in casino business. Therefore, the Cabinet approved the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance, Economic Stabilization and National Policies to take necessary action to issue regulations under the Casino Business (Regulation) Act, No.17 of 2010 and introduce appropriate amendments to the Betting and Gaming Levy Act, No.40 of 1988, with a view to regulating the establishments engaged in the Casino business and collecting the due taxes to be received to the Government.