A proposal put forward to streamline the Casino Industry in Sri Lanka has received Cabinet approval.
The government said provisions have been imposed by Casino Business (Regulation) Act No. 17 of 2010 and the Betting and Gaming Levy Act No. 40 of 1988 for regularizing the Casino industry in Sri Lanka.
Licenses should be given to maintain Casino businesses within Sri Lanka by Act No. 17 of 2010 but no provisions to empower the act have been issued up to now and no Casino industry has been issued licenses under the said act up to now.
The government further said that under such circumstances, it has been difficult to recover relevant levies from either of the entities engaged in the Casino industry.
Therefore, the Cabinet has granted approval to the proposal submitted by the Prime Minister as the Minister of Finance, Economic Stability, and National Policies in this regard.
The proposal calls for the issuance of orders under the Casino Business (Regulation) Act No. 17 of 2010 with the intention of regularizing such industries, recovering levies due to the government, and taking measures to introduce appropriate amendments to the Betting and Gaming Levy Act No. 40 of 1988. (NewsWire)