The government also plans to double the entrance fee for casinos.
Sri Lanka.- The government of Sri Lanka has proposed to raise the turnover tax on gaming establishments from 15 per cent to 18 per cent in its 2025 budget plan. Authorities also want to increase the entrance fee at casinos from US$50 to US$100.
Sri Lanka has several gaming venues. City of Dreams Sri Lanka, in the capital Colombo, opened its Phase I in October with 687 rooms, restaurants and entertainment venues, including ballrooms and event and conference facilities. Phase II, with a 113-key Nuwa Hotel and gaming operations, is expected to open in the third quarter of 2025. The casino will be operated by Melco Resorts & Entertainment.
Morgan Stanley has previously said that Melco would pay developer John Keells 50-55 per cent of casino earnings before interest taxes depreciation and amortisation (EBITDA). Based on a 50 per cent EBITDA share and 40 per cent tax, analysts suggested that Melco Resorts could receive US$30m in cash flow.
The government also plans to double the entrance fee for casinos. Sri Lanka.- The government of Sri Lanka has proposed to raise the turnover tax on gaming establishments from 15…
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