John Keells Holding, among the top listed conglomerates in the country, Friday released its second quarter results for the current financial year saying that the regulations under the casino law now in place has enabled it to proceed with finalizing arrangements with prospective gaming operators to operate their landmark Cinnamon Life project now approaching completion.
This project is among the single largest individual private sector projects in the country. JKH has made clear that the group will not themselves enter the gaming business but would rent space in Cinnamon Life to other operators.A JKH news release said in this connection:
“In August 2022, the Government gazetted regulations under the Casino Business (Regulation) Act of 2010 to formalise the process of issuing of licences and monitoring of operations for casinos in Sri Lanka. With the regularising of Gaming, the Group will proceed with finalising arrangements with prospective gaming operators to operate at ‘Cinnamon Life’. Similar to the experience with Integrated Resorts in other Asian countries, ‘Cinnamon Life’ has the potential to transform Colombo as a destination for leisure and entertainment and lead to significant foreign exchange earnings for the country.”