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The inaugural SiGMA South Asia summit began its main conference in Colombo on December 1, immediately establishing itself as the epicentre of the region’s most pressing regulatory and market dynamics. The atmosphere at the Cinnamon Life at City of Dreams was a mix of optimism for the thriving South Asian gaming market (expected to exceed $7.5 billion by 2028) and deep concern about India’s recent regulatory crackdown.
SiGMA South Asia: Gambling Regulation in Sri Lanka
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The morning session was dominated by the host country’s ambitious goals. A key panel discussion titled “House Rules Rewrite: Sri Lanka’s Big Bet on Regulation” discussed the status of the new Gambling Regulatory Authority Bill.
With the planned opening of its first integrated resort in 2025, Sri Lanka is making a clear, well-regulated push to become a global and regional gaming hub. Experts praised the country’s proactive approach to developing a clear licencing and oversight framework, which contrasted sharply with the uncertainty that plagues its larger neighbour.
India’s RMG Ban: Will It Lead to Industry Exodus?
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The most critical and anticipated discussion of the day centered on the profound impact of India’s Promotion and Regulation of Online Gaming Act (PROGA) 2025, which effectively imposes a total ban on real-money online gaming (RMG).
- Panel Focus: The session, “India’s 2025 RMG Ban: What Survives, What Goes Dark,” featured legal and industry heavyweights debating the consequences of the legislation, which was passed in record time.
- The Black Market Risk: Speakers unanimously warned of the inevitable surge in the black market. As one panellist pointed out, “Regulated spaces protect players; once players move to the black market, there are no protective frameworks.” This shift puts users at greater risk of financial fraud, money laundering, and data leakage.
- Economic Fallout: The financial pain is already apparent. While constitutional challenges to the ban are being heard in the Supreme Court, panellists estimated that the Indian Premier League (IPL) alone could lose hundreds of millions of dollars in advertising revenue, as well as hundreds of thousands of jobs in the tech, advertising, and affiliate sectors across India.
- The Survivor: The new law allows e-sports and online social games to continue, indicating a significant shift in capital and innovation to these non-real money sectors in the coming year.
Strategic Networking and The Future Outlook
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Beyond the serious regulatory debates, the exhibition floor was bustling with activity. Over 5,000 delegates and more than 150 exhibitors connected, displaying the latest innovations in AI, digital payments, and blockchain technology, all viewed through the lens of maximising. opportunity in the dynamic South Asian market, particularly in Pakistan, Bangladesh, and the Maldives.
The day drew to a close with Networking Drinks and an exclusive iGathering Dinner, where C-level executives consolidated new partnerships forged throughout the intense first day. The strong presence of international firms seeking a foothold in the region underscores SiGMA South Asia’s role as a vital gateway to one of the world’s most populous and digitally connected markets.
The focus for Day 2 is expected to shift more toward emerging technologies and innovation.
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