James Packer met with Sri Lankan officials to discuss investment options in the hotel and entertainment industries. Packer owns half of Australian gaming operator Crown Ltd (CWN:ASX) and is co-chairman of Macau’s Melco-Crown Entertainment (MPEL), alongside Lawrence Ho, son of Stanley Ho. The minister of investment and promotion of Sri Lanka said that the delegation had not yet decided on a location or on an investment amount. According to Reuters, officials suggested the development of an integrated resort in the capital Colombo or the eastern city of Trincomalee. The move was unexpected as Crown’s focus has been on the expansion of its business to Sydney while Melco-Crown is finalising a joint venture to develop and operate a $1 billion gaming resort in the Philippines.
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The Puducherry union territory government has urged the union government to ban online gaming platforms and mobile apps, describing it as a necessity to protect the mental health of vulnerable people.
Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.
The next edition of the AGB Webinar Series will look at the future of iGaming customer acquisition and retention, which has been going through a transition period over the last year.