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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » JKH on track to set up Colombo casino

JKH on track to set up Colombo casino

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1JKH on track to set up Colombo casino Empty JKH on track to set up Colombo casino Sun Jun 23, 2013 12:31 am

sriranga

sriranga
Co-Admin
John Keells Holdings (JKH) is negotiating a gaming operator’s licence to start a gaming operation, sources close to the company said.

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.
http://www.sundaytimes.lk/130623/business-times/jkh-on-track-to-set-up-colombo-casino-49584.html

http://sharemarket-srilanka.blogspot.co.uk/

2JKH on track to set up Colombo casino Empty Re: JKH on track to set up Colombo casino Mon Jun 24, 2013 12:30 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
And they are nothing compared to this...... Just got approved

http://www.preferassociates.com/project.php?id=2

3JKH on track to set up Colombo casino Empty Re: JKH on track to set up Colombo casino Mon Jun 24, 2013 12:38 pm

suja


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
If they get the license then we need to revalue the share dont you think?

4JKH on track to set up Colombo casino Empty Re: JKH on track to set up Colombo casino Mon Jun 24, 2013 12:45 pm

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I really hope our religious leaders stay away from this matter. Otherwise they should come up with a better solution.
Tourism is one of the easiest ways to rescue the country from current financial troubles.
We have no oil, no coal, no gold, no money.

5JKH on track to set up Colombo casino Empty Re: JKH on track to set up Colombo casino Mon Jun 24, 2013 12:50 pm

Backstage

Backstage
Moderator
Moderator
Eldorado and Barracuda data analysis must be underway now. Hoping Cairns India issues update 1st July like last year. Anyone know more ?

6JKH on track to set up Colombo casino Empty Re: JKH on track to set up Colombo casino Mon Jun 24, 2013 12:54 pm

rainmaker


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The casino projects should have been in Jaffna 

The JKH gaming licence is a transfer. If JKH really wanted to own casinos they could refurbish a ship and do gaming offshore and then come back

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@rainmaker wrote:And they are nothing compared to this...... Just got approved

http://www.preferassociates.com/project.php?id=2

$170million Vs $640 million. Which one is the biggest ? scratch

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@Backstage wrote:Eldorado and Barracuda data analysis must be underway now. Hoping Cairns India issues update 1st July like last year. Anyone know more ?

May be in first week of September during PC election propaganda.

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