Melco received 20-year casino licence from previous govt.
Chairman of the Committee on Public Finance (CoPF) Dr. Harsha de Silva yesterday (05) emphasised the responsibility on the part of the National People’s Power (NPP) government to enact a comprehensive law to regulate casinos.
Underscoring the pivotal importance of adhering to the due process, the Samagi Jana Balawegaya (SJB) parliamentarian said that a dedicated gaming authority should be introduced without further delay, the former State Minister said.
Speaking to The Island, in the wake of the opening of what was dubbed as the country’s first integrated resort, ‘City of Dreams,’ Sri Lanka that encompassed a high-end casino, the Colombo District lawmaker said that a licence had been issued for it in 2023.
President Ranil Wickremesinghe, at the time of issuing of that license, held the Finance portfolio, while Mahinda Siriwardena was the Secretary to the Ministry. The SLPP, in July 2022, elected Wickremesinghe as President to complete Gotabaya Rajapaksa’s five-year term.
President Anura Kumara Dissanayake attended the opening on August 02. Top Bollywood star Shah Rukh Khan pulled out of the opening at the last moment. In his place organisers brought in Hindi star Hrithik Roshan. Former President Wickremesinghe, too, attended the opening event.
Responding to queries, the CoPF Chief said the Finance Ministry issued the license in its current capacity as the primary regulator.
Developer, owner and operator of integrated resort facilities in Asia and Europe Melco Resorts and Entertainment Limited declared in its website that a wholly owned local subsidiary of the company received a 20-year casino license from the Sri Lankan government.
Melco and its local partner the largest listed conglomerate on the Colombo Stock Exchange John Keells PLC, on April 30, 2024, announced the setting up of the casino in the run-up to the presidential elections. The Cinnamon Life located in the City of Dreams, managed by John Keells, was opened in October last year ahead of the parliamentary elections.
Altogether the City of Dreams consisted of 800 rooms and of which Melco manages top five floors of the hotel, consisting of 113 rooms.
Dr. de Silva said that the previous government issued the license on the promise of establishing a gaming regulatory authority. The MP found fault with the Wickremesinghe-Rajapaksa government and the NPP for not taking tangible measures to introduce a dedicated regulator. “Don’t forget the NPP won the parliamentary election last November,” lawmaker de Silva said. The former UNPer is of the view that Sri Lanka needed external expertise to formulate a comprehensive fool-proof law.
“We can secure Singaporean expertise in this regard,” the SJB MP said.
At the inception, it was known as Cinnamon Grand Integrated Resort. Launched in 2010-2011 following the successful conclusion of the war, Melco stepped in with its Chairman Lawrence Ho visiting the site in 2013 during Mahinda Rajapaksa’s second presidential term. MP de Silva said that the project proceeded over the years before the government issued the license in 2023.
By Shamindra Ferdinando