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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » JKH to engage Govt. on casino issue in Waterfront project

JKH to engage Govt. on casino issue in Waterfront project

3 posters

Go down  Message [Page 1 of 1]

Quibit


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

John Keells Holdings (JKH) said on Friday that it will continue to engage the government over its Waterfront Properties Ltd project which contains a casino that is now not permitted under new rules.

Referring to Prime Minister Ranil Wickremesinghe announcement in Parliament on Thursday that agreements entered into with the JKH group company will be amended to exclude gaming activities, JKH said: “Your company will engage with the government in this regard”.

It said that while the ban on casinos will constrain the ability to command premium rentals, the multi-faceted nature of this development gives the board the confidence that the project will be still viable. “As such, the project will continue as planned,” it said in a statement to the Colombo Stock Exchange.

EquityChamp

EquityChamp
Moderator
Moderator

The project should continue as without even casinos the income can be substantial though the payback period may increase.

fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics

Very Happy Very Happy can buy around 175

EquityChamp

EquityChamp
Moderator
Moderator

A lottery then. 200 fair enough to me.

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