Casino licence query surfaces in investor talks over Sri Lanka’s unfinished Hyatt Tower
Potential gaming approval is seen as a key commercial factor as Colombo seeks bidders for the stalled waterfront development.
Sri Lanka.- Interest in securing a casino licence has emerged as a central issue in the bidding process for the unfinished Hyatt Tower in Colombo. During a pre-bid meeting, a prospective investor for state-owned Canwill Holdings, which owns the half-built waterfront high-rise, asked whether a casino licence could be issued to, or transferred to, a new owner.
Officials from the Finance Ministry did not provide direct clarification, instead advising bidders to seek independent legal advice on licensing matters. It’s believed that the prospect of a possible gaming licence could impact the value of the property.
The tower is being offered through an expressions-of-interest process, with only pre-qualified bidders allowed to proceed to full due diligence. Authorities said confidential documentation will be released after non-disclosure agreements are signed.
Potential gaming approval is seen as a key commercial factor as Colombo seeks bidders for the stalled waterfront development. Sri Lanka.- Interest in securing a casino licence has emerged as a central issue in the bidding process for the unfinished Hyatt Tower in Colombo. During a pre-bid meeting, a prospective investor for state-owned Canwill Holdings,…
