Colombo Lotus Tower, the tallest structure in Sri Lanka, is set to host a casino. The Lotus Tower Management Company (LTMC) struck a 10-year deal recently with Singapore’s Kreate Design Pte Limited for the casino.
LTMC will see $1.4 million per year according to the deal. It is still unknown, however, if Kreate Design will operate the casino or bring in a management company.
Diana Gamage, Sri Lanka’s State Minister of Tourism, said at a press conference announcing the deal that this will be beneficial to the country.
“This will enable Colombo Lotus Tower as a hub to develop trade, investment and tourism activities between Singapore and Sri Lanka,”
Gamage said.
Kreate Design is apparently going to lease a floor of the Colombo Lotus Tower, which not only is the tallest tower in the country, but the 19th tallest in the world, and 11th tallest in Asia. The casino will cover 44,00 square meters and feature a water park, as well as the casino.
The tower opened in September and was designed to function as a radio and television broadcasting antenna for more than 100 stations and telecommunications service providers. It offers six floors or retail and tourist attractions, including an observation deck, luxury hotel rooms, museum and restaurants.
Gambling has been legal since July when the government announced it was issuing licenses for casinos. With the addition of Kreate Design’s casino, the country now will have eight.
While details of the casino itself are light, Gamage said Friday that Kreate Design would lease out one floor of Colombo Lotus Tower covering 44,000 square meters and that the floor would be used to create an entertainment area comprising a casino and a water park, among other attractions. The initial agreement is for 10 years.
Kreate Design’s Business Development Director Cynthia Chan is quoted as saying, “This investment agreement includes development of water sports and an entertainment zone, one of the best to be developed at world class standard at the Lotus Tower in Colombo.”
