JKH hopes to soon finalize gaming deal for Cinnamon Life

John Keells Holdings PLC, the biggest market capitalized conglomerate quoted on the Colombo Stock Exchange, hopes to soon finalize an agreement with a leading international gaming operator to let out space in its new Cinnamon Life complex, considered the single largest private sector investment in the country, JKH Chairman Krishan Balendra said.

In the recently published JKH annual report he said: “Subsequent to the gazetting of the gaming regulations by the Government in August 2022, the Group is currently engaged in discussions with leading international gaming operators to secure the necessary international gaming expertise to operate at ‘Cinnamon Life Integrated Resort’ with the Group leasing the space for such operations.

“Similar to the experience with integrated resorts in other Asian countries, ‘Cinnamon Life Integrated Resort’ has the potential to transform Colombo as a destination for leisure and entertainment and lead to significant foreign exchange earnings for the country.”

JKH does not itself plan to enter the gaming industry, but expects to lease out space in Cinnamon Life to an established international player. JKH is the second largest listed company quoted on the CSE behind Expolanka but it is the largest listed conglomerate.