Restricted Casinos in Sri Lanka
Four years have passed since the end of the civil war in Sri Lanka, during which the largest gambling operators left the island, and now only six casinos operate in the gambling area of the capital.
Transparent state regulation of gambling business was formalized back in 2010, and now the government of Sri Lanka plans to turn the island into a large international gambling resort. Indicator of good potential of this market, for example, can be the fact that this month in the capital of the state for the first time will be an Indian poker tournament, which has never before left the Goa. Show more
To attract large investments, the government promises huge tax benefits: the cancellation of corporate tax for 10 years, and within the next 12 years the tax will be paid at a reduced rate, as well as the abolition of import taxes, dividends, VAT and much more. That caused interest of the Australian gambling company Crown and local gambling company John Keells Holdings, in July this year announced the desire to build a large gambling and hotel complex called Crown Complex on the shore of Lake Beira by 2016. The official permission of the president to build the Crown Complex is expected within a few weeks.
Of the planned $ 2 billion, the country has already attracted 430 million investment, and another 400 million dollars Crown will bring. Also, Chinese gambling magnates became interested in the potential of the market, which managed to bore the stable growth of Macau, which no longer shows jumps up to 60% as before.
Sri Lanka really has a good chance of becoming one of the largest gambling centers in the Asian region. Of course, the island is far from Macau, but it can compete with Singapore, especially since this year the country has already been visited by more than a million tourists, and after the construction of the casino complex, their number should at least double. Show less
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