James Packer’s Crown Casino explores Sri Lanka

James Packer’s Crown Casino explores Sri Lanka

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Livemint says Australian gambling tycoon James Packer may be lining up a bet on Sri Lanka, scouting the Indian Ocean island for potential investments.

Main points:

  • Packer met with Sri Lankan ministers to discuss hotel and entertainment investment options.
  • “They have not finalized the area and the amount they are going to invest. The government has asked them to come up with a proposal,” Lakshman Yapa Abeywardene, Sri Lanka’s minister of investment promotion.
  • “The government proposed (for) them to invest in a large city hotel in Colombo and go to (the eastern city of) Trincomalee to look into possible investment opportunities.”
  • Treasury secretary P.B. Jayasundera said Packer had expressed an interest in “integrated tourism”, which typically includes hotels, casinos and other entertainment.
  • Sri Lanka has allowed casino gambling off and on since at least the 1980s and currently has about nine properties including the Bellagio Colombo, operated by India’s Delta Corp. and unrelated to the Bellagio Las Vegas operated by MGM Resorts.

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