Cinnamon Life to receive green light to operate casinos?

December 31, 2020

The Sri Lanka government is to give permission to house casino operations in the Cinnamon Life mixed development project in order to attract a new segment of tourists as well as to invite significant investments into the country’s condominium market.

John Keells Holdings in early November said the residential apartments and the office tower of the Cinnamon Life project is expected to be handed over to occupants on a staggered basis from the fourth quarter of 2020/21.

Mixed development projects with casino operations were a sticky issue in Sri Lanka as an earlier attempt by the Mahinda Rajapaksa administration ended in chaos creating much uproar across political and religious spectrums.

The then government was forced to capitulate to the pressure and was compelled only to give sweeping tax incentives for mixed development projects sans casino operations.

 


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