JKH says entered MoU with leading gaming operator

COLOMBO (Daily Mirror) - John Keells Holdings PLC (JKH) today said they have entered into a Memorandum of Understanding (MOU) with a leading international gaming operator regarding the Cinnamon Life Integrated Resort.

“WPL (Waterfront Properties Private Limited) entered into a Memorandum of Understanding (MOU) with a leading international gaming operator,” JKH Chairman Krishan Balendra said.

“This MOU consists of the framework for investing into and operating of a casino at the Cinnamon Life Integrated Resort as well as the commercial framework between the parties,” he added.

However, Balendra refrained from disclosing the identity of the party with whom JKH has signed the MOU, as the finer details of the agreement have not been fully settled.

“As originally envisaged, WPL will lease out space at the Cinnamon Life Integrated Resort for the operation of the casino. On finalising details of the fit-out and equipping costs and conclusion of the lease agreement, a detailed disclosure will be made,” he said.