Sri Lanka opens new casino at Colombo Lotus Tower

The recently opened Colombo Lotus Tower (pictured) in the Sri Lankan capital will soon have a casino and entertainment area to be run by the Singapore-based company, according to media reports.

Lotus Tower Management Corp. (Pvt) will receive $1.4 million per year as part of a deal to lease a two-story tower base with a total area of 44,000 square feet (4,088 square meters) to Singapore's Create Design Pte Ltd. The deal was signed last Friday.

The tower's founder said in a statement that entertainment areas including full-fledged casinos and water sports will be developed within the next six months and will begin operating in April next year.

No details about the casino and its operator were announced at a press conference on Friday, according to media reports.

The 356-m-tall Colombo Lotus opened to the public in mid-September. The base has six floors of retail and tourism products, including a restaurant, a luxury hotel room on the first floor, and an observation deck.

An agreement between the tower promoter and Crate design will "enable the Colombo Lotus Tower as a hub for developing trade, investment and tourism activities between Singapore and Sri Lanka," Sri Lanka's tourism minister Diana Gamazi said at a briefing on Friday.

In July, the Sri Lankan Council of Ministers approved the issuance of casino licenses for existing game operators in Sri Lanka under Casino Business (Regulation) Act No. 17 of 2010.

The government has also proposed increasing the annual levy imposed on the gaming business to 500 million LKR ($1.4 million) from the current 200 million LKR and increasing the annual levy on the betting industry.

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