{"id":777000261,"date":"2022-11-21T12:49:32","date_gmt":"2022-11-21T15:49:32","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777000261"},"modified":"2026-04-23T02:47:18","modified_gmt":"2026-04-23T05:47:18","slug":"kreate-design-to-develop-casino-at-colombo-lotus-tower","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/kreate-design-to-develop-casino-at-colombo-lotus-tower","title":{"rendered":"Kreate Design to develop casino at Colombo Lotus Tower"},"content":{"rendered":"\n

Singapore’s Kreate Design Pte Ltd plans to open an entertainment venue with a casino in Sri Lanka’s tallest building.<\/p>\n\n\n\n\n\n\n\n

Sri Lanka.- Singapore-based design company Kreate Design Pte Ltd<\/strong> has announced that it has agreed <\/strong>to lease one floor of the Colombo Lotus Tower<\/strong> in Sri Lanka\u2019s capital. It plans to develop a casino, international conference centres, shopping, water sports and other entertainment options.<\/p>\n\n\n\n

Kreate Design said it plans to invest US$1bn over the next three years<\/strong>, the largest investment in Sri Lanka since the beginning of the Covid-19 pandemic. It has reportedly agreed to pay the Lotus Tower Management Company a six-month refundable deposit as part of the 10-year agreement to lease a floor in Sri Lanka’s talest builing. <\/p>\n\n\n\n

It will pay US$1.4m a year for a floor in what is Sri Lanka’s tallest building, with a 10 per cent increment every two years. The company is expected to begin operations in April next year.<\/p>\n\n\n\n

Diana Gamage<\/strong>, Sri Lanka\u2019s State minister of tourism, said: “This will enable Colombo Lotus Tower as a hub to develop trade, investment and tourism activities between Singapore and Sri Lanka.”<\/p>\n\n\n\n

In July, the government of Sri Lanka announced it was going to issue casino licences<\/a> to obtain new income and boost an economy that has been seriously affected by the Covid-19 pandemic. The Cabinet of Ministers has approved amendments to a 1988 betting law to raise the annual tax on gambling companies<\/strong> from LKR200m to LKR500m (US$1.4m).<\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore’s Kreate Design Pte Ltd plans to open an entertainment venue with a casino in Sri Lanka’s tallest building.<\/p>\n","protected":false},"author":176,"featured_media":21522,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Kreate Design Pte Ltd, a Singaporean entity, plans a US$1bn investment over three years to establish an entertainment complex, including a casino, within Sri Lanka's Colombo Lotus Tower. This significant market entry follows Sri Lanka's government initiatives to issue new casino licenses and amend its betting law, increasing annual gambling taxes to LKR500m, aimed at economic revitalization.","focusai_entities":"Kreate Design Pte Ltd, Lotus Tower Management Company, Diana Gamage","focusai_location":"Singapore, Sri Lanka, Colombo","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Regulatory Compliance Details","query":"What are the specific regulatory compliance requirements and governance frameworks Kreate Design Pte Ltd must adhere to for its casino license in Sri Lanka, beyond the amended betting law?"},{"label":"Tax Impact on GGR","query":"How will the increased annual gambling tax from LKR200m to LKR500m impact the projected Gross Gaming Revenue (GGR) and Net Gaming Revenue (NGR) for new market entrants in Sri Lanka?"}],"footnotes":""},"categories":[157,16334],"tags":[],"class_list":["post-777000261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-asia-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777000261"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000261\/revisions"}],"predecessor-version":[{"id":777000292,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777000261\/revisions\/777000292"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21522"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777000261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777000261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777000261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}