Connect with us

News

New Casino licenses to require minimum investments

Published

on

ECONOMYNEXT – The Government has introduced a minimum investment requirement of 30 and 100 million dollars for new casino licenses in an ‘integrated development’ in amended regulations published by the Finance Ministry.

In January, Sri Lanka announced a fee of 10 billion rupees for a 20-year casino license in an ‘integrated development’ of 250 million US dollars, and five billion rupees for an ‘integrated development’ of over 500 million dollars.

Under the new rules announced in February, a casino in the 250 million dollar integrated development, should have an investment of a minimum of 30 dollars but less than 100 million dollars.

A casino in the 500 million dollar integrated development category, should have a minimum investment of 100 million US dollars.The rules apply to an integrated development “approved by the minister”, under the latest revision.

An integrated development is defined as a “property that provides diversified leisure offerings including hotel, casino, entertainment, retail and restaurants.

For existing operators, the 20-year license fee is 2 billion rupees, with 500 million for the first five years and 1.5 billion for the next 15 years.For any operator the renewal fee is 10 billion rupees.The earlier gazette also said the fees may be revised every five years, subject to a limit of 20 percent.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

India gifts 134 cabs to Sri Lanka Police

Published

on

By

A consignment of 134 single cabs gifted  by the Government of India under the Indo–Sri Lanka Friendship Programme for the use of the Sri Lanka Police was officially handed over to President Anura Kumara Dissanayake on Monday (25) morning  at the Presidential Secretariat.

The Government of India has incurred an expenditure of approximately LKR.300 million for this initiative and the vehicles are scheduled to be distributed among police stations in the Northern Province.

Speaking at the occasion, Indian High Commissioner Santosh Jha stated that similar assistance would continue to be extended to Sri Lanka in the future.

In appreciation of this gift by the Government of India, Inspector General of Police Priyantha Weerasooriya presented a commemorative memento to Indian High Commissioner Santosh Jha.

Minister of Public Security and Parliamentary Affairs, Ananda Wijepala, Deputy Minister of Public Security and Parliamentary Affairs, Sunil Watagala, Secretary to the Ministry of Public Security Ravi Seneviratne, General Manager of DIMO Rajeev Pandithage, officials of the Indian High Commission and senior officers of the Sri Lanka Police were also present at the occasion.

(PMD)

Continue Reading

Latest News

Landslide Early Warnings issued to the Districts of Colombo, Gampaha, Kalutara, Kegalle, Nuwara Eliya and Ratnapura extended till 1600 hrs on Tuesday [26]

Published

on

By

The National Building Reasearch Organisation [NBRO] has extended the landslide early warnings issued to the districts of Colombo, Gampaha, Kalutara, Kegalle, Nuwara Eliya and Ratnapura till 1600 hrs on Tuesday 26th May 2026.

Accordingly,
The LEVEL II [AMBER] landslide early warnings issued to the Divisional Secretaries Divisions and surrounding areas of Dehiowita, Deraniyagala, Ruwanwella and Yatiyanthota in the Kegalle district and Kuruwita, Ratnapura, Ayagama and Eheliyagoda in the Ratnapura district and 

The LEVEL I [YELLOW] landslide early warnings issued to the Divisional Secretaries Divisions and surrounding areas of Seethawaka and Padukka in the Colombo district, Attanagalla in the Gampaha district, Palindanuwara, Mathugama, Bulathsinhala, Agalawatta, Ingiriya and Horana  in the Kalutara district, Bulathkohupitiya in the Kegalle district, Ambagamuwa in the Nuwara Eliya district and Kiriella, Pelmadulla, Nivithigala, Elapatha and Kalawana in the Ratnapura district have been extended.

Continue Reading

News

No PC polls this year, says Tilvin

Published

on

Tilvin

The much-delayed Provincial Council (PC) elections cannot be held this year due to financial and legal constraints, JVP General Secretary Tilvin Silva has said in Jaffna.Silva said so, fielding questions from journalists after the opening of the NPP coordination office in the Jaffna District on Saturday.

When asked whether the government was under Indian pressure to conduct the Provincial Council elections soon, Silva answered in the negative, claiming that Sri Lankan and Indian governments maintained close and friendly relations with a strong level of understanding.

He said budgetary allocations had been made for the PC elections, but the government had been compelled to divert resources for disaster relief following the impact of Cyclone Ditwah. According to Silva, nearly Rs. 500 billion had to be allocated for relief measures, making it difficult to hold the elections this year. He further said legal complications in the electoral reform process had also contributed to the delay in holding the PC elections, noting that a parliamentary committee had been appointed to determine the electoral systems under which the PC polls should be conducted. Once the committee submitted its report and if no further issues arose, the elections could possibly be held next year, he said.

Silva also said the government had taken measures to strengthen reconciliation and development in the North by releasing lands previously occupied by military camps and improving road infrastructure.He added that empowerment initiatives were being implemented under the Praja Shakthi programme and that both Sri Lanka and India were continuing to work in close cooperation.

Continue Reading

Trending