Tourists have long flocked to Sri Lanka for its pristine beaches, wildlife safaris and ancient Buddhist sites. Now, its first Marxist president is betting on casinos to attract high-rollers from India and China and usher in the next wave of foreign inflows.
The success of the casino strategy is crucial for President Anura Kumara Dissanayake, who completes one year in office next month and has vowed to improve the lives of ordinary Sri Lankans after the devastating economic collapse of 2022 and 2023.
Sri Lanka had a handful of small casinos but earlier this month, Dissanayake inaugurated a $1.2 billion City of Dreams casino complex in Colombo, a joint venture between John Keells Holdings and Macau-based Melco Resorts & Entertainment. The launch of South Asia's first integrated resort was headlined by Bollywood's Hrithik Roshan, who danced to hit Hindi songs in front of a packed house.
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