They said the conglomerate is discussing with another casino operator for a part ownership of the latter’s licence. “Currently the valuers are estimating the worth of the licence,” a source told the Business Times. The Government has said no new licencesfor casinos would be issued.
The conglomerate has also drawn plans for a US$640 million integrated hotel complex at Glennie Street where its head office is housed. “They are engaging with designers, potential contractors and the authorities in relation to this project,” the source said, adding that it is the biggest deal for JKH. “The deal is likely to be signed in the next few weeks,” he added. JKH officials declined to comment.
On Wednesday, Investment Promotion Minister Lakshman Yapa Abeywardena, without naming the company, told the media that the government will sign a $640 million agreement next week with a local company for a 500-room hotel complex with apartments, supermarkets, and restaurants.
JKH is the largest private land owner in Colombo with 25 acres of free-hold land at prime locations in the city and more than 120 acres (excluding existing hotel lands) outside Colombo. The source added that a significant portion of this city land portfolio presents immense potential for value-unlocking and JKH is currently in the planning stage for developing these sites.
Last week, the Business Times exclusively reported that all casinos will be re-located to the special gaming zone down D.R. Wijewardena in Fort.