Packer announces $400M Sri Lanka Casino Resort

Oct 21, 2013 7:04 PM

James Packer’s Crown Ltd., Australia’s largest gambling company, has announced a $400 million price tag has been placed on a Sri Lanka Casino Resort Venture it is co-developing.

The company said the five-star resort will have a 450-room hotel at Beria Lake in the center of the capital city of Colombo.

Sri Lanka is in the midst of changing its image from backpackers and religious pilgrims to resort developments that will lure wealthier tourists.

“It is Sri Lanka’s time to shine in Asia,” said Packer, a co-founder with Lawrence Ho of Melco Crown Entertainment Ltd. (MPEL).

Ray Poirier is the longtime executive editor at GamingToday.

Contact Ray at [email protected].

 GamingToday on Facebook      and         GamingToday on Twitter