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* 36-story casino palace to come up in Sri Lankan capital Colombo
Sat, Apr 13, 2013, 11:40 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 13, Colombo: A 36-story skyscraper will be built in the heart of Sri Lankan capital Colombo for a casino and gaming enterprise, Sri Lanka business sources said.

Australian casino king James Packer has reportedly acquired a valuable land adjacent to the state-owned Lake House newspaper publishing house adjoining the Beira Lake.

Packer has agreed to invest US$350 million to build the casino palace which will be known as 'Crown Colombo.' The structure will be completed and opened for business in 2016.

Sri Lanka government recently passed the Casino Business (Regulation) Act with two-third majority to pave way for attracting the investments in gambling market.

Reportedly, India's Delta Corp and Las Vegas Sands (LVS) of US and several Asian casino giants have also expressed interest to start casino business in Sri Lanka.

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