Packer's Crown pulls plug on $400m Sri Lanka casino plan: Report

News

James Packer's Crown Group says it will not go ahead with a proposed plan to develop a $400 million luxury hotel and resort in Sri Lanka, following a decision by the government in Colombo to scrap tax concessions for the project, a report by Radio Australia said. Yesterday the government decided to cancel generous tax concessions for three foreign resort developments – including Mr Packer's resort – and said it would not issue them licenses to run casinos.

A spokeswoman from Crown was quoted in the report saying the company respected the decision and on that basis the project would not be going ahead.

The concessions were given under the former government of President Mahinda Rajapaksa but critics in opposed the move to give tax breaks to foreign gaming ventures.

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

September 5, 2024

- 497 - 0

Election Commission announces plan for leave for voting

The Election Commission has announced the plan for leave for both public and private sector employees for the upcoming presidential election on September 21, 2024, without loss of salary or personal leave.