Packer says Lankan Casino still on
While the government has given the impression the proposed Casino project in Colombo has been put on hold following stiff opposition, Crown chairman billionaire James Packer has told his shareholders the project was still on.
The Australian Associated Press quoted Packer as saying an ambitious program to expand the number of his integrated hotel and casino resorts in Asia and Australia is affordable.
Packer told shareholders at the company’s annual general meeting today that the expansion in Asia would be “self-funding”, and the company would increase its debt to expand in Australia and upgrade existing operations here.
Mr Packer said about half of Crown’s value as a company was now in its joint-venture hotel-casino operations with Melco International in Macau.
“Sri Lanka (a proposed casino there) is not going to be an earth-moving cheque,” Packer was quoted as saying.
Packer said it was worth retaining more of the company’s earnings to “build out” Crown’s facilities in Melbourne, Sydney and Perth and assets in Asia.
“Asia is self-funding, and we’re going to build Sydney and Perth out of increasing our debt a little bit but retaining some earnings,” Packer said.
Crown has been upgrading its Australian casinos to make them more competitive with new casino resorts in Asia and attract more high-rolling gamblers from China.
This month, Crown confirmed that it was in talks with the Sri Lankan government to develop a $US400 million casino resort in Colombo.
(Courtesy: Colombo Gazette)
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Why does he wear a black neck-tie like a funeral undertaker/director who says, “We are the last people to let you down”
Yes, they are exactly correct. Once they let you down nobody else can do it again.
That man who looks like a funeral undertaker is has more money than you can imagine. If the Sri lankan government does not let him build his casino in Colombo I am sure he will not loose any sleep over it, He will go to some other Asian country where there there are not so many ignorrant people. Sri Lanka needs him and other investors need him more than they in Sri Lanka. Wake up to the real world man.
A casino will not ruin the country the bulshit our politicains ( especially the opposition) are feeding our people will ruin the country.
Thanks to MR the country is heading in the right direction with the development and infrstructure which I am sure wil be benefitted by the next generation.
This undertaker’s father looted the wealth of Aboriginal Australia and built an empire with the wealth that came from nowhere.
Now the spoilt son, is no longer interested in the father’s business and is building a casino empire with the assistance of idiotic third world leaders who consider it to be a privilege to have glossy gambling dens in their country.
It is common knowledge that gambling is not a healthy habit and it breeds corruption, black money and many other associated vices.
It is repugnant to note a Sinhala Buddhist Nation fostering such debasing behaviour among its citizens and visitors who fly in specifically to play the gambling games.
The undertaker is of course, laughing, with all the free tax exempted money flowing into his pockets. In his own land, earnings are taxed so much that people no longer work hard to earn more money because the tax collectors will grab approximately 50% of what every citizen earns.
I am glad that you mentioned tax taken by the government. Unfortunately Sri lankans do not pay tax and expect the government to give them any thing and every thing for free or at subsidized rates. Have we thought of from where the money will come for building a better future for our next generation.
All rich men have got that rich by exploiting the poor so he is not different to any one else. Our own rich people who owns mufti millions a year spends more than one of there staff members earn in a year in one day I am sure you are quite aware of this happening in our own country.