Sri Lanka Issues Licenses to All Casino Operators

Sri Lanka Issues Licenses to All Casino Operators

On July 4, the government of Sri Lanka has given green light to the issuance of licenses to all four casino operators active in the country. 

As per government estimations, the tax revenue that the four active casino operators in Sri Lanka owe to the state coffers amounts to a total sum of $7.4 million equal to 33 million Ringgit.

The move aims to make tax collection more efficient because the government has been experiencing difficulties with the collection of these taxes so it has resorted to the issuance of the licenses in order to be better able to receive its dues.

However, this decision comes during a very hard period for the country, which is experiencing a political crisis amid an economic downturn with serious shortages of food, commodities, and fuel.

Together with the announcement about the issuance of new casino licenses, the Sri Lankan cabinet also informed about changes to the Betting and Gaming Levy Act No. 40 from 1988. 

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