Packer takes sales pitch to Sri Lanka
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
In a speech to delegates at the Commonwealth Business Forum in Colombo on Wednesday - a conference just before the Commonwealth Heads of Government Meeting - Mr Packer said a luxury casino resort was a necessity if Sri Lanka was to achieve its potential.
He said Sri Lanka's "ambitious" tourism targets were achievable only with the right tourism infrastructure and attractions, and cited the success of Singapore.
Mr Packer has added $3 billion to his personal wealth since July last year as shares of his casino operator, Crown Resorts, doubled in value.
The main driver of this growth was investors recognising the success of his bet on Macau, which has become a gambling mecca for mainland China.
Mr Packer hinted at Sri Lanka's proximity to India, with a growing proportion of India's population becoming wealthy.
"The demographic changes we are seeing in India and China are extraordinary," Mr Packer said.
He cited a McKinsey study that said incomes were expected to almost triple and the size of India's middle-class population could swell to 580 million by 2025.
As with China, the rising wealth of India's middle class meant more of their spending would go on leisure activities.
About 50 million people will travel overseas by 2020, compared with just 4 million in 2000, according to Mr Packer.
This middle class will need to go overseas to indulge in any gambling.
India's gambling market is limited to two states, Goa and Sikkim, and laws prevent direct foreign investment.
As with China's gambling enclave, Macau, it is India's resistance to gambling on the subcontinent that is expected to allow Sri Lanka - a four-hour flight from India's major cities - to thrive as a gambling hub.
Call 1300 880 160
Start a chat
Schedule a call
