Sri Lanka’s Ministry of Finance announced adjustments to the fees associated with obtaining and renewing casino licences in the country.
According to reports from local media, the decision comes following the submission of ten casino applications.
State Minister of Finance, Ranjith Siyambalapitiya, confirmed the revised fee structure. Existing casinos will now be required to pay $1.55 million (€1.43 million) for the first five years and $4.66 (€4.3 million) million for the subsequent 15 years, along with a renewal fee of $31 million (€28.6 million).
For new operators intending to invest $250 million (€230.9 million) in their projects, the total licence and renewal fees will amount to $31 million (€28.6 million).
However, for projects with investments reaching $500 million (€461.8 million), operators will face an initial licence fee of $15.5 million (€14.3 million), in addition to renewal fees of $31 million (€28.6 million).
Establishment of casino regulatory body
In response to the increasing number of casino applications, the Sri Lankan government is planning to establish a new regulatory body to oversee the casino sector.
Currently, Sri Lanka is home to six existing casinos, namely Bally’s, Bellagio, Casino Marina, Stardust, Continental Club, and The Ritz Club.
SiGMA Africa – only two weeks away!
With less than a month until the highly anticipated SiGMA Africa event kicks off in Cape Town, South Africa on the 11th of March, the gaming industry is abuzz with excitement. Building on the success of its inaugural edition in Nairobi, Kenya, in January 2023, SiGMA Africa is strategically positioning itself at the forefront of Africa’s burgeoning gaming landscape. With the continent’s market poised for exponential growth, driven by a rapidly evolving digital ecosystem and increasing mobile connectivity, SiGMA Group recognizes the need to foster collaboration and innovation within the industry. By bringing together leading stakeholders and visionaries in gaming, SiGMA aims to catalyse progress and propel Africa towards a new era of prosperity and opportunity. As the countdown to the event begins, anticipation mounts for what promises to be a landmark gathering of gaming enthusiasts and innovators in the vibrant city of Cape Town.
