Crown’s partner buys real estate lease

 

Sri Lanka has confirmed that it has sold the local partner of Australian gambling magnate James Packer’s Crown group a lease on some prime release estate in the capital Colombo, where the companies want to build Crown Complex, a $350m casino and entertainment hub.  Sri Lanka’s Rank Holdings, which plans to transfer its Stardust Casino gaming license to the new joint venture, has agreed to pay Rs2.78b (US $21.3m) for the property. The land is situated in an exclusive gaming zone as delineated under the terms of Sri Lanka’s 2010 gambling legislation.

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts