Universal Entertainment exits Colombo Port City casino project

The withdrawal comes as Sri Lanka prepares a new authority to regulate casinos and online gaming.

Sri Lanka.- Universal Entertainment Colombo has withdrawn from a proposed casino resort at Colombo Port City, Sri Lanka’s flagship special economic zone. The news leaves the project’s future uncertain.

The area’s master plan includes a dedicated International Island precinct set aside for entertainment and gaming infrastructure. However, the casino project is one of five early-stage proposals that have fallen through. That’s according to statements made by Revan Wickramasuriya, Director General of the Colombo Port City Economic Commission (CPCEC), to the parliamentary Committee on Public Finance.

CPCEC officials say other Colombo Port City projects advance, with primary investments across nine leased parcels having reached US$1.12bn. Construction is reportedly progressing on several mixed-use, residential, and marina projects, and the commission says it continues to target an additional US$1bn in investments over the next 12 months.

Sri Lankan authorities have been working to establish a structured regulatory framework for the gaming sector. In April, the Cabinet approved a bill to create an authority tasked with licensing and overseeing online gaming, onshore casinos, floating casinos and offshore gaming operations within the Colombo hub.