Amidst the Government’s plans to provide licences for casinos, progress on the previously-abandoned casino project by James Packer’s Crown Group, now a hotel development project under a new Japanese company, remains in limbo, according to the Urban Development Authority (UDA).
Speaking to The Sunday Morning on condition of anonymity, a high-level official at the UDA said that there had been no progress on the abandoned casino project of James Packer’s Crown Group, although it had not been cancelled.
“The ownership of the project has changed hands to a Japanese company. Their proposal was for a hotel development project. The development on this project isn’t progressing, likely because the country’s economy is still unstable. However, the investment has not been cancelled.”
The official revealed that the UDA had nevertheless instructed the company to commence development activities soon.
Recently, State Minister of Finance Ranjith Siyambalapitiya said that Sri Lanka had received 10 applications to set up casinos under new regulations issued, which were at various stages of evaluation.
When asked if any of the UDA’s upcoming mixed-development projects could include casinos, the official noted that the authority had no connection to the casino project approval processes.
“We give approval for hotel or mixed-development projects; casino licences have to be obtained separately. Whether these projects will be casino projects will depend on the approval given.”
The source further noted that the UDA was anticipating issuing Requests for Proposal (RFPs) for several upcoming leisure projects.
The official also noted that the UDA had as of now identified many potential mixed-development projects: “We plan to advertise about five such mixed-development projects in the upcoming weekend and call for RFPs.”
According to the official, D.R. Wijewardena Mawatha has been earmarked for hotel-based projects within the city. Moreover, the UDA expects that the Port City will draw in investments as a financial hub, similar to Dubai and Singapore.