Protests delay Packer's Sri Lanka integrated resort
Govt moves to alter tax concessions granted to the US$400m project
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[COLOMBO] Opposition by Buddhist religious leaders and some political parties in Sri Lanka led the government to announce on Tuesday that it will alter tax concessions granted to Australian gambling tycoon James Packer's Crown Ltd for a US$400 million hotel resort that will include a casino.
The changes could take at least one month and likely will delay Mr Packer's mixed-development investment project for the second time this year.
Lakshman Yapa Abeywardena, Investment Promotion Minister, said the decision to alter the deal's terms came after various opposition politicians said Mr Packer was getting concessions not given to local entrepreneurs and Buddhist leaders said the casino could be detrimental to Sri Lanka's culture.
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