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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.

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