Crown Limited is reported to have rejected changes the Sri Lanka government has proposed to the design of its planned US$350 million gaming resort in the capital of Colombo.
One local news report described the Australian casino giant as “highly perturbed” by the government’s desire to reduce the number of hotel floors from the 36 Crown wants to build to house the project’s 400 rooms. This was transmitted to Chief Executive Rowen Craigie and CFO Ken Barton during a recent site visit. Crown is reported to have already spent a considerable sum on the design.
It’s reported also that officials have responded to Crown’s refusal by requesting the development be moved to another location from the one the company has selected near Colombo Fort. But this is a problem as well because Crown’s local joint venture with casino operator Ravi Wijeratne has paid 20% of the cost for a 50-year lease on the land.
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