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Tag Archives: Sri Lanka

Sri Lanka – Sri Lanka confirms new licence fees with ten applications for casinos on the table

With ten casino applications now received, Sri Lanka’s Ministry of Finance has confirmed the increase in fees for securing and renewing casino licenses. State Minister of Finance Ranjith Siyambalapitiya confirmed that existing casinos will need to pay US$1.55m for the first five years and US$4.66m for the next 15 years combined, with a renewal fee…

Sri Lanka – Colombo Lotus Tower set to offer Sri Lanka’s sixth casino

Sri Lanka is to add to its current total of five casinos with a sixth being agreed as part of an entertainment area across one floor of the Colombo Lotus Tower. The communications tower which opened in Colombo in September is the 19th tallest building in the world and the 11th tallest in Asia. Whilst…

Sri Lanka – Colombo Port City to be allowed to open casinos

The Colombo Port City Economic Commission is to formulate new legislation to allow casinos to be developed in Colombo Port City, a Chinese-controlled special economic zone on reclaimed land in Sri Lanka. The commission will be looking for ‘the attributes of gaming locations within the Area of Authority of the Colombo Port City, and specifying…

Sri Lanka – Sri Lankan casinos facing licensing, entry fees and taxation increases

Casino operators in Sri Lanka will be hit by a triple whammy with Finance Minister Mangala Samaraweera confirming that licensing fees, entry fees and taxation will all be increasing in the coming months. Sri Lanka is to increase its annual licence fee for casinos from LKR200m to LKR400m (US$2.2m). There will also be a turnover…

Sri Lanka – BetConstruct provides Live Casino solution to Bally’s Casino in Sri Lanka

BetConstruct has developed a custom solution for Bally’s casino in Sri Lanka. This special project for land-based casino operators targets the highly profitable online gaming sector. A spokesperson said: “As BetConstruct sees success of both traditional and live casinos, we have combined the thrill of the real gaming floor with the convenience of play-anywhere games…

Sri Lanka – SIS Stream rolls out in Sri Lanka with Sporting Times

SIS, a leading supplier to the betting and gaming industry, has broken new ground by bringing the company’s innovative SIS Stream platform to Sri Lanka for the first time. Launched with major operator Sporting Times, the deal will allow for customisable high definition content to be shown in shops through SIS’ low latency IPTV streaming…

Sri Lanka- New tax to replace entrance fee in Sri Lanka

Sri Lanka’s four casinos will be hit with increased taxation to counter the abolition of the entry charge brought in earlier in 2015. Casino license fees will though be doubled as a result with a new 25 per cent tax on gaming profits also being introduced. Minister of Finance, Ravi Karunanayake, confirmed the move, saying:…

Sri Lanka – Packer told he’s not welcome in Sri Lanka

Australian casino owner James Packer has been told he is unwelcome ‘in this lifetime’ in Sri Lanka by the country’s new Prime Minister. Having withdrawn from plans to build a $350m luxury resort in Colombo, Mr. Packer’s Crown Resorts has been told by Prime Minister Ranil Wickremesinghe to stay away. He said: “Packer says he…

Sri Lanka – New government could spell the end for Crown in Sri Lanka

The election of a new president in Sri Lanka could spell the end for Australian operator Crown’s attempts to develop a $US400m casino resort in the capital of Colombo. Newly elected Maithripala Sirisena has promised to ‘disallow’ licences for casinos put forward by James Packer’s Crown Resorts and local developer John Keells Holdings. Mr Sirisena…