Casinos crumble under new taxes

Business

Dec 14, 2015
243
0

Sri Lankan casino owners, first battling anti-casino sentiments from the powerful Buddhist clergy and now unbearable taxes, are seriously considering closing down their business, the Business Times learns from reliable sources.

The only two top-end billionaire casino operators are Dhammika Perera’s (Ballagio/Ballys ) and Ravi Wijeratne’s (Stardust/Marina casinos). Mr. Perera’s casino MGM Grand at Bambalapitiya was closed in May this year to convert the building to a “Glass Art Gallery” because of pressure on heavy taxes.