Sources cited by a Sri Lankan Internet news site say James Packer has acquired land in the capital of Colombo for a US$350 million casino.
“Crown Colombo,” as the project is called after Mr Packer’s Australian flagship Crown Limited, will be part of a 36-story skyscraper to be constructed on Beira Lake adjoining the state-owned Lake House newspaper publisher group.
A 2016 opening is planned, the report said.
The Sri Lanka government has been actively seeking resort-scale casino investment to take the island nation’s tourism industry to a new level and in the process provide a valuable boost to the larger economy. Tax breaks and other benefits have been made available to attract developers, and some f the industry’s biggest names have explored potential investments.
India’s Delta Corp., Goa’s dominant casino operator and owner of two Colombo casinos, is reportedly looking for partners to develop a 150,000-square foot casino and supporting hotel in the capital city.
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