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.
State Minister of Finance Ranjith Siyambalapitiya confirmed that existing casinos will be required to pay $1.55 million for the first five years and $4.66 million for the subsequent 15 years, with a renewal fee of $31 million.
New operators planning to invest $250 million in their projects will face license and renewal fees totaling $31 million.
Should the investment in a new casino project reach $500 million, operators will need to pay an initial license fee of $15.5 million, in addition to renewal fees of $31 million.
In response to the surge in casino applications, the Sri Lankan government aims to establish a new regulatory body to oversee the casino sector.
Currently, Sri Lanka is home to six existing casinos: Bally’s, Bellagio, Casino Marina, Stardust, Continental Club, and The Ritz Club.
