Sri Lanka Bets on High End Casinos

Multi-million-dollar, high end casinos planned for Colombo have boosted Sri Lanka’s ambitious hopes of becoming Asia’s new gambling hot spot, but the projects still face political and religious opposition. The country legalized gambling in November 2010, with the aim of eventually luring cashed-up tourists to the island nation and boosting an economy battered by decades of ethnic war. The government granted approval to Sri Lanka’s John Keells group last week for a $850-million “mixed development” high end casinos, a euphemism for an entertainment hub that includes gambling. The green light was also given last month to the local partner of…