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Sri Lanka to double casino fees

Sri Lanka will raise an annual licence fee for casinos from 200 million to 400 million rupees, Finance Minister Mangala Samaraweera was cited as saying by local media.

There will also be a turnover tax of 15 percent. The taxes will come into effect from April 1st.

A casino entrance fee of $50 dollars per person will be charged from June 1st.

It is believed the entrance fee is aimed at deterring the local players.

Sri Lanka’s capital, Colombo, is home to several casinos, though efforts to open the industry to allow in more players were thwarted by political opposition.

Australia’s Crown Resorts had been planning a $400 million property, which was one of three projects planned for the country. However, it pulled out in early 2015 after an incoming government cancelled generous tax concessions.

Crown had been betting on Sri Lanka’s close proximity to India to drive gaming revenue.

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