Sri Lanka: Golden Island partners with Majestic Group to launch casino at Colombo’s Lotus Tower

Golden Island Hospitality Private Limited has partnered with India’s Majestic Group Hotels & Casinos to establish the Majestic Pride Casino in Sri Lanka. The casino will be located in Colombo’s iconic Lotus Tower.

The Ministry of Finance, Economic Stabilization & National Policies of Sri Lanka has granted Golden Island Hospitality a Casino Business License under the Casino Business (Regulation) Act, No.17 of 2010. The license was issued on July 5, 2024, marking a significant step in the development of Sri Lanka’s gaming and hospitality industry.

Additionally, an agreement with the Board of Investment of Sri Lanka was signed on August 1, 2024, under Section 17(2) of the Board of Investment of Sri Lanka Law No.4 of 1978, further solidifying the venture. This project is part of a larger $1 billion redevelopment plan for Lotus Tower, aimed at transforming it into a major entertainment hub.

The Majestic Pride Casino is expected to enhance Sri Lanka’s gaming sector with a wide range of gaming options. The collaboration between Golden Island Hospitality and Majestic Group aims to position the casino as a key attraction for tourists, contributing to the country’s tourism industry and creating employment opportunities for local residents.

Majestic Group Hotels & Casinos has been a prominent player in Goa’s luxury and entertainment sectors for over 15 years, attracting visitors from across India with its diverse portfolio of properties.

Separately, gaming operator Melco Resorts & Entertainment has a City of Dreams project planned for central Colombo.