Crown’s Sri Lanka project remains in limbo

    Crown Resort’s plans to build a $400 million integrated resort in Sri Lanka remain uncertain, with a government minister telling local journalists that it’s unclear as to whether Australian tycoon James Packer will proceed with the project.
    Minister of Investment Promotion, Lakshman Yapa Abeywardena said the mixed development projects planned by Packer and Sri Lankan gaming Mogul, Dhammika Perera, were still pending and that there was no new information on the matter.
    He said that foreign direct investments from the John Keells project was coming into the country, but failed to disclose the amount of the inflow into the project so far.
    The future of the Crown project, designed to boost tourism revenue in the island nation, has been in doubt since late last year after the government approved the plans for the resort, but appeared to rule out further casinos.
    Local media reported in April that Packer has threatened to abandon his investment if he was unable to operate a casino on the property. Other reports have suggested that the foreign investors may seek to team up with local partners to obtain a license to operate.