The Cabinet has approved a proposal submitted by the Prime Minister in his capacity as the Finance Minister, regarding the regularization of the casino industry in Sri Lanka.
The Casino Business (Regulation) Act No. 17 of 2010 and the Betting and Gaming Tax Act No. 40 of 1988 provide for the regulation of the casino industry, and under Act No. 17 of 2010, licenses are required to operate casino businesses in Sri Lanka.
The proposal submitted by the Prime Minister to the Cabinet of Ministers in this regard points out that due to the necessary orders to enforce the provisions of the said Act not been issued so far, no license has been issued to any casino business under the said Act and it is difficult to formally collect taxes from the institutions currently engaged in the casino business as a result.