Majestic Group to launch Majestic Pride Casino in Sri Lanka
The casino will be located at the Lotus Tower in Colombo.
Sri Lanka.- Golden Island Hospitality Private Limited has partnered with Majestic Group Hotels & Casinos, one of the largest offshore casinos in Goa, to open the Majestic Pride Casino at the Lotus Tower in Colombo 10.
The Ministry of Finance, Economic Stabilization and National Policies granted a casino business licence to Golden Island Hospitality on July 5. The venue will join six existing operational casinos in Sri Lanka: Bally’s, Bellagio, Casino Marina, Stardust, Continental Club, and The Ritz Club.
In February, authorities announced revised casino licence fees. Under the new structure, existing casinos are subject to fees of US$1.55m for the initial five years followed by US$4.66m for subsequent renewals, with a renewal fee of US$31m. For new operators planning investments of US$250m, licence and renewal fees are US$31m. For those investing more than US$500m, the initial fee is US$15.5m, followed by renewal fees of US$31m.
