Thursday, November 11, 2010

Sri lanka to Legalizing Gambling ( Casino )

Sri Lanka’s parliament today voted to approve a bill to legalize gambling, a move that may attract casino developers eager to profit from tourists flocking to the island after the end of its civil war.
The Gaming Special Provisions Bill will “provide for the designation of areas in which persons interested to start the business of gaming can set up their establishments,” according to the legislature’s website.
Billionaire Rakesh Jhunjhunwala-backed Delta Corp. said Oct. 4 that it plans to open casinos in Sri Lanka in the next six months to tap a surge in visitors after the end of the nation’s 26-year war with Tamil rebels. Sri Lanka’s tourist arrivals rose 44 percent in the first nine months of the year, according to the nation’s tourism agency.
Sri Lanka’s $42 billion economy may grow as much as 8 percent in 2010, the central bank said on Sept. 21. The nation’s troops defeated the separatist Liberation Tigers of Tamil Eelam in May last year, ending their quest for a separate homeland. 


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