Sri Lanka officials introduce new legislation allowing at least one large casino resort in the area of its Colombo Port city.
For future development, the Economic Commission of the city is checking all the possibilities, viability, and scope of gambling. According to the G3Newswire report, the commission wants to experiment with all the options it has.
On 665 acres of reclaimed land extending into the Indian Ocean, the Colombo Port City lays its construction for a new city. The China Communications Construction Company is helping Sri Lanka in the development of this new city.
Colombo Port City could be the home of as many as 80,000 people. It’s taking shape to South with the existing container port of Colombo. The City-state of Singapore is slightly larger than the business-friendly area, which is also constructed with China’s partnership. This partnership is based on a proposal presented by China. It is a part of their “Belt and Road” foreign investment project.
Reportedly China has the control over Colombo Port city since 2017. Though, technically, it’s a Sri Lankan region. As a relief of the debt with Colombo Port City Economic Commission, China will enjoy control over it.
The port is already dubbed as “Sri Lanka’s New Dubai.” Now the question that arises on the horizon is what industry will permit to set up the shop. With the governing body’s decision, gambling will extend. A licensing system might also be established to control the gambling structure.
Approximately $1.4 billion has already been pumped in by China to make the Colombo Port City a reality. The initial investment could reach about $13 billion.
To the domestic customers, supposedly a casino resort is needed in that area. And like Europe and North America, gambling has abundant chances to flourish there.
The various gambling-friendly establishments have already been established in Sri Lanka, including the Bellagio Colombo Casino and Bally’s Casino Colombo. Over any analogous Colombo Port City enterprise, the Colombo Port City Economic Commission reportedly has the sole authority.