By Mario Andree
Ceylon FT: Australian gaming tycoon James Packer, who currently is constructing a US$ 350 million resort in Sri Lanka after the Cabinet approved the project, is bidding to develop several casinos in other countries.
According to a recent media report, Crown Resorts is bidding for a US$ 2 billion casino in the gaming hot spot, Las Vegas, and a US$ 1 billion project in Brisbane, Australia.
While many other investors were eyeing other lucrative destinations moving on, the Australian gaming kingpin has shown interest on a three year old casino and hotel complex in Las Vegas owned by Deutsche Bank. Further, the firm after winning the right to operate a VIP gaming facility in Sydney was also bidding for a US$ 1 billion casino project in Brisbane, Australia to expand its casino empire.
The company is building new casinos in Sri Lanka and the Philippines, and has expressed an interest in building a US$5 billion-plus casino and resort in Japan, Australian Financial Review said.
James Packer, controlling shareholder of Crown Resorts, entered Sri Lanka last year to develop a casino resort in Colombo with an investment of US$ 350 million tied up with Sri Lanka's Rank Holdings.
The Ministry of Investment Promotion and the Board of Investment approved the project and gave the green light to commence construction of its hotel without the casino facility.
However, the opposition has alleged that the Ministry of Investment Promotions and the Board of Investment had covered the inclusion of casino facilities in the project after revising the original Gazette notification and renaming it as associated facilities.
www.ceylontoday.lk
Ceylon FT: Australian gaming tycoon James Packer, who currently is constructing a US$ 350 million resort in Sri Lanka after the Cabinet approved the project, is bidding to develop several casinos in other countries.
According to a recent media report, Crown Resorts is bidding for a US$ 2 billion casino in the gaming hot spot, Las Vegas, and a US$ 1 billion project in Brisbane, Australia.
While many other investors were eyeing other lucrative destinations moving on, the Australian gaming kingpin has shown interest on a three year old casino and hotel complex in Las Vegas owned by Deutsche Bank. Further, the firm after winning the right to operate a VIP gaming facility in Sydney was also bidding for a US$ 1 billion casino project in Brisbane, Australia to expand its casino empire.
The company is building new casinos in Sri Lanka and the Philippines, and has expressed an interest in building a US$5 billion-plus casino and resort in Japan, Australian Financial Review said.
James Packer, controlling shareholder of Crown Resorts, entered Sri Lanka last year to develop a casino resort in Colombo with an investment of US$ 350 million tied up with Sri Lanka's Rank Holdings.
The Ministry of Investment Promotion and the Board of Investment approved the project and gave the green light to commence construction of its hotel without the casino facility.
However, the opposition has alleged that the Ministry of Investment Promotions and the Board of Investment had covered the inclusion of casino facilities in the project after revising the original Gazette notification and renaming it as associated facilities.
www.ceylontoday.lk
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