The recently announced City of Dreams Sri Lanka project could achieve Gross Gaming Revenue (GGR) ranging between $200 million to $250 million on a run-rate basis, the group's management revealed.

Melco has been awarded a 20-year casino license to operate City of Dreams Sri Lanka, in the country’s capital of Colombo.

Jade Group is bringing its Fantasy Cricket to the island nation of Sri Lanka in another significant move towards regional expansion for the fast growing gaming company.

Sri Lanka's Ministry of Finance has announced revised fees for obtaining and renewing casino licenses, following the submission of ten casino applications, the country's media reported.

The Sri Lanka Parliament's Committee on Public Finance (COPF) has expressed concern over the delay in establishing a regulatory body for the gaming industry, as per a statement released.

Media outlets in Sri Lanka are reporting that the government has received ten applications for new casinos, but that approval has yet to be granted. This is according to a statement by State Minister of Finance Ranjith Siyambalapitiya who recently revealed the information in response to a question raised by a member of parliament.

Authorities in Sri Lanka have officially paved the way for a gaming regulatory authority to be established. The new authority would govern tax collection, counter criminal activity and negative societal impacts from gaming.

Sri Lanka’s government recorded a 43 percent increase in the betting and gaming levy during the first quarter of the year, annually, even as tax collections by the Inland Revenue Department rose a record 216 percent, to RS316.62 billion ($1.12 billion).