The government of Sri Lanka has approved two foreign funded and operated casino complexes in its capital Colombo. The projects are worth arund $1.08 billion. The Sri Lanka government has also granted both casinos a partial 10 year tax excemption as incentive for the development of the casino complex and accompanying hotel resorts. The projects have not yet been approved by parliament, but it is expected to meet with little to none interference.
One of the projects will be developed by an Australian funded company which will build a $350 million resort and has been granted a lake-front property in Colombo, three months ago. The other casino will be located nearby as well and will be developed by a local company. Sri Lanka is counting on both these resort complexes to aid their tourism industry by attracting many more tourists and especially some casino whales.