By Mario Andree
Ceylon Finance Today: Australian billionaire gaming tycoon James Packer's, as well as local gaming mogul Dhammika Perera's projects which received parliamentary approvals have come to a halt, with no progress made so far.
Minister of Investment Promotion Lakshman Yapa Abeywardena told Journalists in Colombo that James Packer had not made any moves on his Colombo project and the project was at a standstill.
According to him, Dhammika Perera's Queensberry Project too had not commenced despite the necessary approvals being given.
Responding to queries, he said the two parties had not responded and that the commencement of the projects was uncertain.
The approvals for the projects, which according to Minister Abeywardena were given following guidelines of the country's legal framework, might have been not pleasing to some investors, and the continuation of the project was in their hands.
One of the three much criticized projects; the Water Front Properties by John Keells Holdings, has commenced construction and is expected to be completed in 2017.
Packer's project was said to have been put on hold after the government released a Gazette notification on the project, which left out the setting up of gaming facilities.
Ceylon FT earlier this year reported that despite some legal issues that needed to be ironed out in the agreement, the US$ 400 million mixed development would proceed as planned.
The minister said, the agreement had not specified proper terms and conditions, after it was decided to rescind the casino agreement amidst growing opposition.
Australian billionaire and gaming tycoon James Packer according to news reports in April this year had informed the Sri Lankan Government that he would abandon the planned US$ 400 million integrated resort project in Colombo, if the operation of casinos was not allowed.
Packer's project as well as two other projects by local blue chip, John Keells Holdings and Local Gaming Mogul Dhammika Perera, came under serious criticism following gazette notifications which said that the first two projects approved by Cabinet included casinos.
Contradicting the statements of President Mahinda Rajapaksa and Economic Development Minister Basil Rajapaksa, government spokesman Keheliya Rambukwella in early May this year said that Packer and Perera would be able to operate casinos in their projects, as a result of restricting casino operations in the country to D. R. Wijewardena Mawatha.
www.ceylontoday.lk
Ceylon Finance Today: Australian billionaire gaming tycoon James Packer's, as well as local gaming mogul Dhammika Perera's projects which received parliamentary approvals have come to a halt, with no progress made so far.
Minister of Investment Promotion Lakshman Yapa Abeywardena told Journalists in Colombo that James Packer had not made any moves on his Colombo project and the project was at a standstill.
According to him, Dhammika Perera's Queensberry Project too had not commenced despite the necessary approvals being given.
Responding to queries, he said the two parties had not responded and that the commencement of the projects was uncertain.
The approvals for the projects, which according to Minister Abeywardena were given following guidelines of the country's legal framework, might have been not pleasing to some investors, and the continuation of the project was in their hands.
One of the three much criticized projects; the Water Front Properties by John Keells Holdings, has commenced construction and is expected to be completed in 2017.
Packer's project was said to have been put on hold after the government released a Gazette notification on the project, which left out the setting up of gaming facilities.
Ceylon FT earlier this year reported that despite some legal issues that needed to be ironed out in the agreement, the US$ 400 million mixed development would proceed as planned.
The minister said, the agreement had not specified proper terms and conditions, after it was decided to rescind the casino agreement amidst growing opposition.
Australian billionaire and gaming tycoon James Packer according to news reports in April this year had informed the Sri Lankan Government that he would abandon the planned US$ 400 million integrated resort project in Colombo, if the operation of casinos was not allowed.
Packer's project as well as two other projects by local blue chip, John Keells Holdings and Local Gaming Mogul Dhammika Perera, came under serious criticism following gazette notifications which said that the first two projects approved by Cabinet included casinos.
Contradicting the statements of President Mahinda Rajapaksa and Economic Development Minister Basil Rajapaksa, government spokesman Keheliya Rambukwella in early May this year said that Packer and Perera would be able to operate casinos in their projects, as a result of restricting casino operations in the country to D. R. Wijewardena Mawatha.
www.ceylontoday.lk
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