James Packer's expansion plans for his resorts business in Sri Lanka have suffered a setback, with the government refusing to grant a casino license for a planned $400-million (€288.3 million) development in Colombo.
Since 2007, the billionaire – a third gen of the Australian media dynasty behind Consolidated Press Holdings – has been moving away from his family's traditional interests to focus on developing his casinos and resorts company, Crown Limited.