First Casino-Resorts Coming To Sri LankaCountry Looking To Be The Next Singapore |
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Two brand new Las Vegas-style casino-resorts are coming to Sri Lanka’s capital of Colombo.
Crown Ltd, owned by Australian businessman James Packer, is behind one of the projects, while John Keels Holdings is the developer of the second. Other firms have pieces.
The two casino complexs will be located in close proximity to one another in Colombo.
According to Bloomberg, the country is trying to replicate the gambling successes of Singapore and Macau. Macau brought in $38 billion in gaming revenue last year, which was tops in the world.
In order to entice investment, the country reportedly will give heavy tax breaks to the gaming businesses. Those are expected to be approved by the government soon.
“We want to be a family destination, like Singapore,” Ravi Wijeratne, the head of Rank Holdings, the local company that will co-own the first planned property with Crown, told the Financial Times. “We don’t want to be a new Macau or Vegas, no way.”
More than $1 billion will be invested between the two projects.
Sri Lanka is located off the tip of India in the Indian Ocean. The island is 65,610 square kilometers and has a population of 20.2 million people. The Colombo metro area has about 5.6 million.
The plan would be to capture some of the wealthy gamblers from India.
Casinos in the capital city reportedly could nearly double tourism to the country.
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