Sri Lanka receives 10 applications to develop casinos

According to authorities, the applications are being evaluated and no licences have been issued so far.

Sri Lanka.- Sri Lanka is currently assessing 10 applications for the establishment of casinos. State minister for Finance, Ranjith Siyambalapitiya, confirmed that the applications are at various stages of evaluation, emphasizing that no licences have been issued thus far. 

Opposition legislators, however, have raised questions regarding specific companies and inquired about potential casino locations, including the Lotus Tower, Kandy, and Jaffna. In response to concerns about the religious significance of certain areas, minister Siyambalapitiya assured that the evaluation process considers various factors. 

He also highlighted the regulatory framework implemented last year, involving a 500 million rupee renewable fee for five years, a 15 per cent revenue levy, and a $50 fee for Sri Lankan casino players. Siyambalapitiya mentioned government plans to incrementally raise the fee to $200 over three years to discourage local participation.

Another legislator expressed concerns about setting up casinos when citizens face financial challenges. However, minister Siyambalapitiya defended the move, emphasizing the need for alternative revenue sources, particularly from taxing foreigners. 

Through the legalisation of casinos, authorities not only hope to generate new income but also seek to combat illegal gambling.