Packer’s Sri Lanka venture hits roadblock
Reports from Sri Lanka indicate that the government has suspended final approval for two casinos, once of them backed by Australian casino czar, James Packer.
A bill giving the two separate casino hotels the go-ahead and granting them a 10-year tax holiday has been put on ice.
Local firm John Keells Holdings plans to invest US$650 million in a waterfront casino in the capital, in conjunction with a so-far unannounced foreign partner.
Packer’s Crown Ltd has earmarked US$350 million for a similar development.
Buddhist monks have warned they will stage protests if the government goes ahead with the projects.
Sri Lanka’s investment promotion minister denied the bill had been axed, saying it was being reworked so that the 10-year tax holiday was confined to the hotel operations and not the casino side of the business.
He said he expected the bill would be introduced sometime in November with the government hoping to take 5% of all casino revenue irrespective of profits.
Ian Jarrett
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt