Sri Lanka Lawmakers Discuss Creating a Gambling Regulator
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Lawmakers in Sri Lanka are considering creating a gambling-specific regulatory body.
Sri Lanka is considering creating a gambling regulator to regulate gambling. The government estimated it had SRL 2.67 billion ($7.4 million) to be collected in taxes from gambling operators. Back in July this year, Sri Lanka issued licenses to all four of its casino operators in an effort to collect taxes. It is unclear how much was due to the casinos that have operated for years now.
Regulated gambling market will bring a fresh stream of tax revenue to the country's coffers. It will also enhance the protection of customers. A regulated gambling industry also helps in the efforts against money laundering and terrorism financing.
