Public Finance Committee exposes unregulated online casinos

In a recent meeting of the Committee on Public Finance (CoPF), it was revealed that despite clear legal prohibitions, online casinos continue to operate openly in the country, depriving the state of substantial revenue without facing any consequences.

Dr. Harsha de Silva, Chair of the committee, instructed that a letter be sent to the Minister of Finance to urgently address this issue. The meeting, held on June 6th, emphasized the need for prompt government intervention, according to a statement from the Communication Department of Parliament.

The committee underscored the necessity of establishing a Casino Regulator. Representatives from the Ministry of Finance and the Central Bank concurred, suggesting that many casino-related issues could be resolved with a dedicated regulatory authority.

Dr. de Silva directed officials to expedite the creation of the necessary legal framework for this regulatory body, highlighting its importance for attracting foreign investors and ensuring the government collects due revenue from the casino industry.

During the session, the Committee reviewed and approved Regulations and an Order under Sections 3 and 4 of the Casino Business (Regulation) Act No. 17 of 2010. Additionally, the Notification under Section 27 of the Welfare Benefits Act, No. 24 of 2002, was also approved after careful consideration.