There’s a new Sri Lanka casino, approved by the government for investments worth around a billion dollars. The giant foreign-funded casinos in the capital Colombo on Thursday, including one involving Australian gambling mogul James Packer. Government spokesman Keheliya Rambukwella said the cabinet granted the projects a partial 10-year tax holiday and approved the “mixed developments”, a euphemism for casino hotels. A Sri Lankan company set up to build a US$350-million resort with investments by Packer was given a prime lake-front property in the capital three months ago, while the second casino will be built nearby by local firm John Keells…

From Sports Interaction – The island nation of Sri Lanka is making plans to draw in tourism and gambling revenue with multi-million dollar casinos. The country’s economy has struggled through decades of war, but is looking toward a brighter future. In this interest, it legalized gambling in November 2010 and both local and foreign interests are betting that the economy and tourism industry will be turning around and fueling an emerging gambling industry. In the works is a $850 million gambling and entertainment hub being developed by the John Keells group which was given the green light last week. The…

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…