In a significant development, the Cabinet of Ministers has given its approval to the Betting and Gaming Levy (Amendment) Bill, which was proposed by President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilization and National Policy. The amendment to the Betting and Gaming Levy Act, No. 40 of 1988, was initially approved by the Cabinet in April of last year.
After the Attorney General gave clearance for the amendment, the relevant bill was approved by the Cabinet to be gazetted and presented before Parliament. The amendment to the Betting and Gaming Levy Act is expected to have a far-reaching impact on the gambling industry in Sri Lanka.