Oct 25, Colombo: The Sri Lankan government has withdrawn two regulations presented to parliament under the Strategic Development Projects Act to set up two luxury hotels with gaming facilities in Colombo from the parliamentary Order Book.
Investment Promotion Minister Lakshman Yapa Abeywardena has withdrawn the two regulations that were presented by him on October 8th to set up two luxury hotel complexes with gaming facilities on D.R. Wijewardena Mawatha, Colombo 10, and Justice Akbar Mawatha, Colombo 2.
The management, operation and the ownership of the multi-function resort at a cost of US$ 650 million in Slave Island will be by Waterfront Properties (Pvt) Ltd., a John Keells Holdings (JKH) company.
The management and operation of the US$ 350 million hotel complex along D.R. Wijewardena Mawatha will be undertaken by Lake Leisure Holdings Company, the joint venture between Australian gaming tycoon, James Packer's Crown Ltd. and the local Rank Holding (Pvt.) Ltd.
The two regulations were entered in the Order Book of parliament and were to be taken up for debate on the 24th and 25th.