Colombo, October 18, 2026. Universal Entertainment Colombo has abandoned the development of an integrated resort with a casino in Colombo Port City, Sri Lanka, after withdrawing from the evaluation of a 10-hectare site. The withdrawal is among five projects that have stalled out of ten proposals reviewed by Parliament's Committee on Public Finance.
Revan Wickramasuriya, Director General of the Colombo Port City Economic Commission (CPCEC), confirmed the withdrawal before the committee chaired by Harsha de Silva. The project, linked by media reports to Japan's Universal Entertainment Corporation, headed by Tomohiro Okada, had neither a confirmed investment amount nor an approved casino licence.
Harsha de Silva
Other withdrawn proposals include Asiri Port City Hospital, Gateway International Campus, and Clothespin Management and Development, which had proposed a seven-star hotel, residences, offices, and commercial facilities. The latter had paid US$10,000 to process its application. Despite the cancellations, the CPCEC, chaired by Harsha Amarasekera, reports US$1.12 billion in investment commitments across nine leased land plots and aims to attract another US$1 billion over the next twelve months.
Harsha Amarasekera
Ongoing developments include the Colombo International Financial Centre, involving approximately US$500 million in Chinese-funded construction, Colombo Marina, ICC Port City, CIFC Colombo 1, and Marina Hotel. The special economic zone covers 269 hectares and operates under Act No. 11 of 2021. Sri Lanka approved Act No. 17 of 2025, certified on September 3, establishing a gambling regulatory authority. Effective January 1, 2026, tax reforms increased the levy on regulated gross collections from 15% to 18% and doubled the casino entry fee for Sri Lankan citizens from US$50 to US$100.
President Anura Kumara Dissanayake, who also serves as Finance Minister, leads the government alongside Prime Minister Harini Amarasuriya. Vijitha Herath heads the Tourism portfolio. City of Dreams Sri Lanka, associated with Melco Resorts & Entertainment and Cinnamon Life, is already operating in Colombo as a separate development from the abandoned project.
