Sri Lanka president Anura Kumara Dissanayake has moved the country a significant step forward toward modernizing its gambling framework.
The leader, known by his initials AKD, came to power following an election victory in September 2024, two years on from the South Asian country’s economic collapse.
As reported by The Island, Dissanayake has forwarded a draft bill that will see the introduction of a Gambling Regulatory Authority, if the proposed legislation is approved by lawmakers.
The new measures would transform betting and gaming in Sri Lanka, repealing the longstanding government laws that have served gambling for decades: the Horse Racing Betting Ordinance, the Gambling Ordinance, and the Casino Ordinance.
At present, gambling is a restricted offering in the country, with the only legal services provided on horse racing at the Royal Turf Club in Nuwara Eliya and in prominent casinos such as Bally’s Casino Colombo, in the capital of Sri Lanka.
It is unclear if the new regulatory approach would open up the gambling market or if it will remain a limited offering.
AKD could opt to secure growth for the new regulated sector by opening up betting markets for different sports, particularly cricket, but nothing is imminent on this.
What we do know is that the entire gambling sector will come under the oversight of the new authority, if the president’s draft bill is implemented.
A new regulator would be tasked with ensuring the market is compliant and that all stakeholders adhere to the rules, which would likely evolve in some form.
“Your Tax, Your Future” is the theme under which I participated in the inaugural ceremony of the 'Badhu Shakthi – National Tax Week' programme this morning at the Presidential Secretariat. Together, let’s recognize the importance of our tax contributions. pic.twitter.com/LcDC4icMU1
— Anura Kumara Dissanayake (@anuradisanayake) June 2, 2025
President Dissanayake’s proposals to reform the gambling sector require balance
These changes have been in the background for some time and have already been cleared by the attorney general of Sri Lanka.
The next stage is for deliberation in parliament, with approval required from the majority of the 225 MPs in the supreme legislative body.
AKD’s National People’s Power party is the largest designation in parliament with 159 seats, so unless there is significant opposition from within, the numbers are on his side to reform the gambling sector in Sri Lanka.
He won the presidency on a ticket to combat organized crime and corruption, so opening up the regulated market would have its merits to act against offshore illicit operators, while stimulating growth and tax returns.
Conversely, he will be aware of exposing ordinary people to gambling-related harm, and amid the country’s recent economic strife, that will be a pertinent balance to find.
Image credit: AnuraDissanayake/X
