Business

JKH to engage Govt. on casino issue in Waterfront project

30 January 2015 - 582   - 0

John Keells Holdings (JKH) said on Friday that it will continue to engage the government over its Waterfront Properties Ltd project which contains a casino that is now not permitted under new rules.

Referring to Prime Minister Ranil Wickremesinghe announcement in Parliament on Thursday that agreements entered into with the JKH group company will be amended to exclude gaming activities, JKH said: “Your company will engage with the government in this regard”.

It said that while the ban on casinos will constrain the ability to command premium rentals, the multi-faceted nature of this development gives the board the confidence that the project will be still viable. “As such, the project will continue as planned,” it said in a statement to the Colombo Stock Exchange.

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