CoPF calls for immediate action to regulate online casinos

Colombo, June 11 - Chair of the Committee on Public Finance, Dr. Harsha de Silva has called for immediate action to regulate online casinos. 

Despite existing laws prohibiting their operation, online casinos continue to function openly, depriving the country of significant revenue. Dr. de Silva has directed a formal letter to be sent to the Hon. Minister of Finance, urging prompt attention to this pressing issue.

The call for regulation was a key topic at the recent Committee on Public Finance meeting, chaired by Dr. de Silva on June 6th. During the session, the necessity of establishing a Casino Regulator was underscored.

Representatives from the Ministry of Finance and the Central Bank concurred, noting that many of the current issues surrounding casinos could be effectively managed with the establishment of a regulatory authority.

Dr. de Silva emphasized the urgency of enacting the necessary legislation to establish this regulatory body, highlighting its importance for attracting foreign investors and ensuring the government collects due revenue from the casino industry.

Following these discussions, the Committee reviewed the Regulations and an Order under Section 4 read with Section 3 of the Casino Business (Regulation) Act No. 17 of 2010. After thorough deliberation, both the Regulation and Order received approval from the Committee.

Further, the Committee considered and approved the Notification under Section 27 of the Welfare Benefits Act, No. 24 of 2002.