Dr Sarath Obeysekera

Proposal for Facilitation of Betting & Gaming License Approvals in Sri Lanka

As Sri Lanka seeks new avenues for foreign direct investment, tourism growth, and foreign exchange earnings, the development of a regulated betting and gaming industry within the Colombo Port City framework deserves serious consideration.

Global gaming hubs such as Macau, Singapore, and certain Caribbean island jurisdictions have successfully transformed gaming and entertainment into major economic drivers. Sri Lanka, strategically located in the Indian Ocean and positioned between the Middle East and Asia, has the potential to develop a carefully regulated gaming and digital entertainment ecosystem targeting international markets.

The Colombo Port City project offers a unique opportunity to establish a special regulatory and financial zone for online gaming, betting technology services, and integrated entertainment resorts. With modern infrastructure, international connectivity, and tax incentives, Port City can attract global operators, software developers, payment service providers, and foreign professionals.

Expatriates and international gaming technology specialists could be encouraged to establish operational offices in Sri Lanka, creating high-value employment opportunities in IT, cybersecurity, finance, compliance, customer support, and digital marketing. This could also stimulate demand for luxury apartments, hospitality services, and international schools within the Port City ecosystem.

Sri Lanka already possesses several advantages:

• Strong telecommunications infrastructure
• A growing IT workforce
• Strategic time zone advantages
• Competitive operational costs
• Access to South Asian markets

The banking sector also appears to recognize the emerging digital gaming economy. The early involvement of major financial institutions such as Commercial Bank indicates that regulated financial channels may already be preparing for increased digital transaction volumes linked to entertainment and gaming platforms.

However, any expansion of betting and gaming activities must be accompanied by strict governance and regulatory oversight. A modern framework should include:

• Licensing and compliance systems
• Anti-money laundering controls
• Age verification mechanisms
• Responsible gaming policies
• Tax transparency
• Cybersecurity monitoring

Sri Lanka must avoid becoming an unregulated offshore gambling haven. Instead, the country should position itself as a professionally regulated, technology-driven gaming jurisdiction similar to Singapore or Macau, balancing economic opportunity with social responsibility.

Ps 

If managed carefully, the gaming and betting sector could become part of Sri Lanka’s broader strategy to diversify exports, attract foreign investment, create digital employment, and strengthen Colombo’s role as a regional financial and entertainment hub.

I personally do not agree because I push for physical development of Trinco and port city for offshore and marine industry 

Regards

Dr Sarath Obeysekera