The Sri Lankan budget raises the cost of casino admission
- Casino entrance fees have been raised to $100 per person, and gaming establishments are now subject to an 18% turnover tax.
- The overall goal of the budget is to increase revenue and strengthen Sri Lanka's economy.
The unveiling of Sri Lanka President Anura Kumara Dissanayake's first budget since his election last year focused on gaming. First, the two casinos in the country would charge an admission fee of $100 per person, which is double the previous amount. Additionally, the 15% turnover tax on gaming businesses has been raised to 18%. Along with a number of other sector-related reforms, the recently elected president's budget aims to increase revenue and support Sri Lanka's economy.
City of Dreams Sri Lanka was the first integrated resort in Sri Lanka
The country's tax revenue, which was 7.3% of GDP in 2022, should quadruple, according to the International Monetary Fund (IMF). In a similar vein, a draft law outlining the prerequisites for local gamblers to access casinos has been published in Thailand. In January, a measure to legalize land-based casino gambling was approved. The proposed entry conditions include that residents must have at least ฿50 million ($1.48 million) in fixed deposits for a minimum of six months, and that the maximum entry fee is ฿5,000.
