Oct 18, 2013 (LBO) – A 400 million US dollar high end casino resort in Sri Lanka would employ 2,500 people and ‘redefine’ luxury tourism in the island, Australia’s Crown group has said. The opposition has said it will reverse tax holidays if it comes to power, and impose a 40 percent tax on gaming revenues as in Macao with no income tax, or a lower rate of around 20 percent like in Singapore with corporate income tax.
Sri Lanka’s John Keells Holdings is also building a similar resort.
“Sri Lanka is a beautiful and unique country with huge tourism potential, I have great confidence in the country’s future and believe as a destination that it is Sri Lanka’s time to shine in Asia,” Crown chief James Packer said in a stock exchange filing.
“A Crown integrated resort would help redefine luxury tourism in Sri Lanka and play a significant role in helping to drive increased international in-bound tourism especially from India and China.”
The group said its “Crown Sri Lanka” project will be a landmark resort with “contemporary and iconic’ design.
The 5-star resort will have 450 rooms and suites, dining and entertainment offerings, conferencing, gaming areas, retail outle