The Sri Lankan cabinet has approved a proposal in the country’s 2025 budget that will see the betting levy increased and casino entry fee for locals doubled.
According to a report by local business media outlet Economy Next, Cabinet Spokesman Nalinda Jayatissa said the proposal was this week cleared by Sri Lanka’s Attorney General. It will see the betting gaming levy charged on gross revenue raised from 15% to 18% and the entry fee doubled to US$100 from US$50 currently.
A bill to amend the Betting Gaming Levy Act to incorporate the proposals had already been drafted, Jaytissa explained.
“Clearance of the Attorney General too has been granted for the draft bill,” he said. “The Cabinet of Ministers approved the proposal to publish the draft bill in the government’s gazette notification and subsequently to forward it to the Parliament for its approval.”
Economy Next describes the Betting and Gaming Levy Act is the central law in Sri Lanka governing taxes on bookmakers and gaming businesses, requiring anyone conducting such businesses to pay an annual levy.
This latest development comes after Sri Lanka’s Gambling Regulatory Authority Bill was recently passed by the Sri Lankan parliament – repealing the previous Horse Racing Betting Ordinance, Gambling Ordinance and Casino Ordinance.
The bill establishes a formal gambling regulator – the Gambling Regulatory Authority (GRA) – tasked with the collection of gambling-related revenue, ensuring transparency and good governance in gambling operations, and preventing illegal gambling activities.
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