SL approves Crown's $350m deal with casino

12 September 2013 09:39 am - 16 - {{hitsCtrl.values.hits}}

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The government of Sri Lanka has approved a hotel and leisure resort deal with Australian gambling tycoon James Packer's Crown Ltd, but the investment is likely to increase from the original $350 million, the country's investment promotion minister told Reuters on Thursday.

The finalisation of the deal was delayed because the Sri Lankan government was asking Lake Leisure Holdings, the joint venture between Crown Ltd and its local partner, Rank Entertainment Holdings Pvt Ltd, to change its construction plan.

Investment Promotion Minister Lakshman Yapa Abeywardena said the government had approved the deal with two towers in the original location given to the joint venture, instead of one.

"Today cabinet approved the tax concessions for the strategic development project of Lake Leisure Holdings. Now it will go to the parliament," Yapa told Reuters in an interview. "The agreement is for $350 million. They have done some alterations, so it might increase," Yapa said.

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Comments - 16

shitake mushrooms Thursday, 12 September 2013 03:29 PM

How do these casinos help the millions of Sri Lankans who just eke out a living?

Perera Thursday, 12 September 2013 04:03 PM

Do we actually need Casino?

Disgsted Thursday, 12 September 2013 04:10 PM

disgrace to this so called "buddhist" country

lalith Friday, 13 September 2013 03:36 AM

ballo marala hari komis gahagattoth salli thamai!!

Saman Friday, 13 September 2013 03:44 AM

We don 't poor tourists from EU who would spend just $50 a day to visit SL anymore. We should target those Asian "high rollers", especially from China. They come, they play, they spend and they go! Those high rollers wouldn't not resist a world class Casino in Sri Lanka! The way to go. I know the monks will snarl!

banda Friday, 13 September 2013 03:49 AM

Where is WW, CR, BBS and RB. The so called patriots must
be under the bed.

Dhano Friday, 13 September 2013 04:13 AM

Over 80% of the population in SL are living in poverty. The standard of living is lower than Africa and there are more beggars and roads with pot holes and dengue than the number of casinos in SL.

Suren Jayawickrama Friday, 13 September 2013 05:05 AM

Perera - casinos are not for u or me, its for visitiors! we simply have no money to enter these places! have a life!

Prash Friday, 13 September 2013 05:21 AM

Good move.
If we dont do it, foreigners will go to other countries. This is the money they anyway spend - who cares....

This will increase visitors, happening places, employments ... etc.
Bad side is it is gambling and some can get adicted. So it is not a reason to stop this project. People should know what to do with their mone or lose them n cassino.

Good one

kit udugama Sunday, 15 September 2013 08:57 AM

What an idiot ?? A dumb question. Tourists come here not only to meditate.,but to have some fun.

kith udugama Sunday, 15 September 2013 09:00 AM

Tourist won,t play Wala Salli or booruwa like you people !!!

kith udugama Sunday, 15 September 2013 09:03 AM

Some miserable people were born in to this country for our misfortune.

If you do not like casinos why don,t you go and play booruwa ???

kith udugama Sunday, 15 September 2013 09:06 AM

Why don.t you also go under the bed and play with them you mugatiya.

kith udugama Sunday, 15 September 2013 09:09 AM

Suren, You are dead right,but they can get jobs as janitors, toilet cleaners if they get o level with out English.

kith udugama Sunday, 15 September 2013 09:11 AM

They come here to meditate and observe SIL.

kith udugama Sunday, 15 September 2013 09:14 AM

,Why don,t you go to an African jungle and leave us alone.

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SL approves Crown's $350m deal with casino

Comments - 16

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