The Supreme Court (SC) recently addressed a petition alleging that the State incurred a loss of Rs. 85 billion due to the previous government’s decision to grant a casino operating license for the Lotus Tower, Colombo, under President Ranil Wickremesinghe’s administration.
During the hearing, President’s Counsel Navin Marapana, representing the petitioner Ven. Malgalle Sujatha Thero, stated that the matter is serious. The previous government issued the casino license in July 2024 for only Rs. 500 million, despite new regulations requiring an investment of $250 million (approximately Rs. 75 billion) and a license fee of Rs. 10 billion, or alternatively, a $500 million investment with a license fee of Rs. 5 billion.
Marapana argued that the concession granted to Majestic Pride Casino Sri Lanka, operated by Golden Island Hospitality Ltd., resulted in a minimum loss of Rs. 85 billion to the State.
The Senior State Counsel representing the Attorney General requested additional time to gather instructions on the matter, leading the SC to allow respondents to file limited objections if necessary. The case is scheduled for further support on October 14.
Counsel Navin Marapana, along with Attorneys Kaushalya Molligoda and Uchitha Wickremesinghe, represented the petitioner.
The Majestic Pride Group of Casinos and Hotels currently operates two casinos in Goa, India, and one in Kathmandu, Nepal. In August, Golden Island Hospitality Ltd. announced its agreement with the prominent Majestic Group Hotels and Casinos, a major gaming operator from India, to establish the Majestic Pride Casino in Sri Lanka. This initiative was approved by Sri Lanka’s Finance, Economic Stabilization and National Policies Ministry under the Casino Business (Regulation) Act, No. 17 of 2010, marking a significant step forward in the nation’s gaming and hospitality sector.
An agreement was also signed with the Board of Investment of Sri Lanka on August 1, 2024, further solidifying this venture, which aims to replicate the Majestic Group’s successful track record in Goa, attracting tourists from across India.