CoPF Chair Urges Minister of Finance to Address Regulation of Online Casinos Immediately
It was revealed that despite clear legal provisions against online casinos, they continue to operate openly, denying the country of its rightful revenue without facing any consequences. The Chair of the Committee on Public Finance Hon. (Dr.) Harsha de Silva instructed for a letter to be sent to the Hon. Minister of Finance requesting immediate attention to this issue.
This matter was discussed during a recent meeting of the Committee on Public Finance chaired by Hon. (Dr.) Harsha de Silva on the 6th.
During the meeting, the importance of establishing a Casino Regulator was emphasized. Officials from the Ministry of Finance and the Central Bank agreed that many issues related to casinos can be resolved with the establishment of a regulatory body.
The Chair urged the officials present to take prompt action and not delay in enacting the necessary laws to establish a regulatory authority, which is crucial for attracting foreign investors and collecting government revenue from the casino industry.
Following the discussions, the Committee approved the Regulations under Section 4 of the Casino Business (Regulation) Act No. 17 of 2010 and an Order under the same Act after careful consideration.
Additionally, the Committee approved a Notification under Section 27 of the Welfare Benefits Act, No. 24 of 2002.
State Minister Hon. (Dr.) Suren Raghavan, and Members of Parliament Hon. Nimal Lanza, Hon. Mayantha Dissanayake, Hon. Chandima Weerakkody, Hon. (Dr.) Nalaka Godahewa, Hon. Harshana Rajakaruna, Hon. Madhura Withanage were present at the Committee meeting.
Despite the law clearly stating that online casinos are illegal, they continue to operate openly in the country, depriving the government of revenue. The Committee on Public Finance, chaired by Hon. (Dr.) Harsha de Silva, discussed this issue and directed a letter to the Minister of Finance for immediate attention. Establishing a Casino Regulator was emphasized as important by officials from the Ministry of Finance and the Central Bank. The Committee approved regulations and orders related to the Casino Business (Regulation) Act No. 17 of 2010, as well as a notification under the Welfare Benefits Act. Immediate action was urged to establish a regulatory authority to attract foreign investors and collect revenue from the casino business.
