Sri Lanka’s Committee on Public Finance (CoPF) has greenlit the importation of casino gaming machines, aiming to boost national revenue through taxation. Officials say the move supports the country’s economic recovery following years of financial strain.
Sri Lanka Prioritizes Revenue Gains Over Gambling Risks
CoPF member Ravi Karunanayake clarified that the committee focused solely on financial implications when approving the measure. “We assessed the revenue-generating potential, not the societal risks of gambling,” he said. The approval specifically benefits registered tourism institutions and casino operators, who can now legally import gaming equipment.
Previously, Sri Lanka restricted such imports as part of its crisis-era economic controls. Authorities have now lifted those restrictions, citing the gaming sector’s ability to contribute to national funds.
Sri Lanka Introduces Oversight Measures for Casino Equipment
CoPF Chairman Harsha de Silva revealed plans to introduce a monitoring mechanism to oversee the importation process. “Every casino machine will undergo regulatory checks to ensure transparency and accountability,” he noted. The monitoring system aims to prevent misuse while enabling tax collection.
Pushing Toward Stronger Gambling Regulation
Currently, Sri Lanka’s gambling industry operates under outdated and partially enforced laws such as the Betting and Gaming Levy Act (1988) and the Casino Business Regulation Act (2010). To close these regulatory gaps, the government introduced the Gambling Regulatory Authority Act earlier this year.
This updated framework introduces mandatory Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols. It also promotes responsible gambling standards for both physical and online operations.
Despite progress, de Silva expressed concern over emerging risks. He warned that unregulated online casinos and junket-style VIP tours could undermine the system if left unchecked. He urged lawmakers to adopt a comprehensive strategy, pointing to Singapore’s dual-track regulation as a potential model.
