The SiGMA South Asia Summit in Colombo, held on 30 November, included a panel discussion, ‘House Rules Rewrite’, which focused on the importance of the upcoming gambling regulations for stakeholders within the gambling industry in Sri Lanka. During this session, participants had the opportunity to learn about the Gambling Regulatory Authority Bill and its potential to change the current landscape of both iGaming and land-based gambling in Sri Lanka. There were several key points that were discussed, including the bill’s role in stabilising the market, ensuring that operators understand their compliance requirements, and establishing an open and transparent regulatory environment for all operators to operate in. As a result of this session, attendees had a greater understanding of how the regulatory structure will impact their strategic planning, risk management and operational practices when working with both local and international operators as Sri Lanka continues to develop its gaming industry.
Regulatory overhaul and compliance
The opening of the session on 30 November at Lumina Ballroom-Cinnamon Life was led by SiGMA’s Jenny Ortega-Bolivar with a view to providing context for the objectives of the legislation, i.e., developing an open, modernised regulatory framework for compliance-oriented operators that will encourage growth of the domestic gaming market. Ortega-Bolivar provided the framework for the discussion and supported participants’ understanding of what should be considered with respect to Licensing, Compliance and Operating Strategy.
The first speaker, Katerina Shepetenko, Managing Partner at Legal Pilot, explained Licensing Expectations under the new structure, emphasising that early compliance planning will empower operators to navigate the changing environment confidently and successfully.
Operational strategy for online and land-based markets
Prasun Bhadani, General Manager of India at Sportradar, explored operational impacts, underscoring how the bill incentivises innovation while maintaining regulatory compliance. Bhadani highlighted the critical role of technology providers in supporting operators with player verification, responsible gaming tools, and reporting standards, which will directly influence how online and land-based operators develop their operational strategies to meet new regulatory requirements.
Rushda Niyas, Managing Director at JAAR Law, discussed how clear regulations create a level playing field. She explained that the bill reduces legal ambiguity, enabling both local and international operators to operate confidently. Niyas emphasised that alignment with global standards will position Sri Lanka as a credible hub for iGaming in the region.
Global perspective and strategic foresight
As expected, the future of gambling regulation, Markus Stricker, managing partner at Fortanach, provided a global overview of gambling regulations and used examples from different jurisdictions where international government frameworks were implemented successfully, increasing the size of the market and protecting the integrity of the industry. He stated that now is a strategic opportunity for operators in Sri Lanka to establish themselves as compliant and forward-looking leaders in the emerging regulated market. Stricker believes operators need to create long-term business plans that focus on aspects beyond complying with the technical regulations of the country, developing robust risk management, developing a long-term capital investment strategy and developing innovative operating processes. By implementing these types of proactive business practices, operators will have increased trust with both regulators and their other stakeholders, and they will also be able to improve their resiliency and sustainability while taking advantage of the changing iGaming landscape and minimising potential market risks.
Preparing for the New Era
At the end of the panel, an interactive question-and-answer session was introduced to enable the audience to ask questions about practical items related to licensing, taxation, operational strategy, and other regulatory considerations. The discussions also indicated that the success of operators in Sri Lanka’s regulated market will be determined by proactive compliance, long-term strategic vision, and responsible gaming practices.
For professionals seeking to understand the opportunities arising from Sri Lanka’s regulatory reforms, this panel offered a roadmap combining legal insight, operational guidance, and international perspectives.
Visit the SiGMA website for more information on the South Asia Summit here.
