FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» AAIC Next multibugger- destnation beyond EXPO.
by Equity Win Today at 12:52 pm

» BIL is still a baby
by Maharaja Today at 12:36 pm

» HOTEL AND TRAVEL SECTOR
by rajini Yesterday at 11:38 pm

» IMF team to visit Sri Lanka by month-end for staff-level agreement - CB Governor
by ADVENTUS Yesterday at 6:32 pm

» LOLC to enter the giant Indian Market
by Chula Yesterday at 6:05 pm

» Stocks on the Radar at CSE
by samaritan Yesterday at 5:28 pm

» SUNSHINE HOLDINGS PLC (SUN.N0000)
by K.R Yesterday at 4:14 pm

» Sri Lanka's first ever fully electric super car 'Vega'
by samaritan Yesterday at 2:19 pm

» SEMB.N and SEMB.X
by adjoseph Yesterday at 1:12 pm

» Forcus on Government controlled entities
by D.G.Dayaratne Yesterday at 9:26 am

» ACL; MELS; HHL; BIL; LWL- STOCKS TO WATCH
by ADVENTUS Wed Aug 17, 2022 10:33 pm

» BAIRAHA FARMS PLC (BFL.N0000)
by arun.cse Wed Aug 17, 2022 4:37 pm

» LIOC ....Get in soon
by arun.cse Wed Aug 17, 2022 3:55 pm

» RENUKA AGRI FOODS PLC (RAL.N0000) TP. 7
by Cma Wed Aug 17, 2022 2:08 am

» Sri Lankan Port Transshipment Hub Threats & Opportunities
by rajini Wed Aug 17, 2022 12:53 am

» LANKA INDIAN OIL CORPORATION - Maharaja
by Maharaja Tue Aug 16, 2022 11:07 pm

» AAIC 100 = SCAP 16
by SamJay1974 Tue Aug 16, 2022 8:12 pm

» APLA - Very very undervalued share - Target Price
by Jana Tue Aug 16, 2022 7:07 pm

» HAYLEYS PLC (HAYL.N0000)
by Chamath1980 Tue Aug 16, 2022 5:07 pm

» New Bermuda Triangle
by rajini Tue Aug 16, 2022 2:17 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Crown Australia's Sri Lanka unit to target China and India: JV partner

Crown Australia's Sri Lanka unit to target China and India: JV partner

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics

By Jayantha Kovilagodage
June 5, 2013 (LBO) - A luxury hotel with Australian casino magnate James Packer's Crown group targeting Indian and Chinese high rollers may involve up to 400 million US dollars, its Sri Lanka partner said.

"We initially estimated this project to be about 350 million US dollars, but now we think it may cost up to 400 million US dollars," Ravi Wijeratne, head of Sri Lanka's Rank Holdings group said.

"It will have 430 rooms and it will attract high spending tourists. We are expecting to sell a room at a price between 450 to 500 US dollars."

He said the luxury development will target Indian and Chinese guests and also the conference and incentive travel market.

The entertainment resort to be located on Colombo's D R Wijeratne has run into controversy due to tax breaks to be given to the project and a planned reduction of a gaming levy by the state.

He said despite criticism the project has drawn it was not easy to attract a foreign investor the size of Crown, which will bring economic returns in the long term and negotiations took more than three years.

Both Wijeratne and Packer operate casinos.

"I have a casino license," Wijeratne said. "Casinos can be operated only on D R Wijewardene Mawatha so I will be taking my gaming business to this hotel.

"But there are other facilities including a 20,000 square foot conference hall."

There are already casinos on the road stretch.

He said the hotel will have a shopping mall and restaurants with specialist chefs.

Wijeratne's Rank Entertainment Investment is expected to have a 45 percent stake in the project, Crown 45 percent and other financial partners the balance.

Sri Lanka has seen a surge of tourist arrivals since the end of a war in 2009.

Sri Lanka's deputy economic development minister Lakshman Abeywardene told parliament this week that the project was luxury hotel with multiple facilities which would be subject to the betting and gaming license.

Abeywardene had said the land will be held by the local partner.

Last month Abeywardene told LBO that the investment application for the project had been submitted and it was being processed.
http://www.lankabusinessonline.com/news/crown-australias-sri-lanka-unit-to-target-china-and-india:-jv-partner/1521106016

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum