Sri Lanka has legalized gambling on Wednesday 10. The Parliament passed the Casino Regulatory Bill yesterday with an unaccounted majority of votes in its final reading. With the passing of the new law, Sri Lanka s Casino and gaming sectors will no more be in `legally unclear zone .
The new law is likely to encourage overseas game sector operators, especially from India where casinos are largely prohibited.
It was previously reported that India s Delta Corp (formerly Arrow Webtex) will expand in Sri Lanka & the South Asian region with an outlay of $225 million in the next three years according to its CFO, Hardik Dhebar.
In India, where casinos and gaming are largely prohibited, Delta Corp has become a successful venture with its two casinos.
Another reason Delta is well known is that it is backed by the famous billionaire equity investor Rakesh Jhunjhunwala, India s 57th richest man whose net worth is estimated to be around $ 1.15 billion (Forbes). In addition to Colombo, Sikkim and Daman are also in Delta s radars, it has been learnt.