City of Dreams Sri Lanka is an upcoming large-scale entertainment and hotel project. It’s a partnership between Melco Resorts & Entertainment Limited and a company listed in Colombo called John Keells Holdings PLC. Together, they are developing this project, which will feature a casino and a hotel. This development, costing about US$1 billion, will be located in Sri Lanka and is part of a larger complex called Cinnamon Life Integrated Resort.
Under this partnership, Melco has been granted a 20-year license to run a casino in this new resort. They will manage the casino and also oversee the top five floors of the hotel, which consists of 800 rooms in total. These rooms will be branded under Melco’s Nüwa brand, which is a name used for some of their luxury accommodations.
The CEO of Melco, Lawrence Ho, expressed excitement about this venture, stating that it is a significant development for Sri Lanka. He believes that the City of Dreams Sri Lanka will boost tourism and economic growth in the country, much like similar developments have done in other places.
Melco and John Keells have finalized their business plans, and the construction of the casino area is expected to start soon with an initial investment of around US$125 million. While the hotel and other non-gaming parts of the resort are nearing completion and expected to open in late 2024, the casino is set to begin operations in mid-2025.
This investment is important for Sri Lanka as it aims to attract more tourists and create economic benefits for the local community. There is also potential for expanding the casino in the future depending on its success and market conditions.
