Melco Resorts has secured a 20-year casino license for the City of Dreams Sri Lanka integrated resort complex in Colombo, marking a new chapter in Sri Lanka’s tourism and hospitality sector. This over one-billion-dollar project, led by Melco Resorts headquartered in Macau, China, is set to revolutionize luxury tourism, entertainment, and leisure experiences in Sri Lanka and the wider South Asian region.
With its expertise in the gaming industry, Melco Resorts aims to elevate the ‘Cinnamon Life Integrated Resort’ into the ‘City of Dreams Sri Lanka’. This transformation underscores Melco’s dedication to pushing the boundaries of luxury and entertainment, positioning the City of Dreams Sri Lanka as a premier destination in the tourism sector. As the first of its kind in Sri Lanka and South Asia, this project marks a significant milestone, promising a new era of prosperity, innovation, and unparalleled tourism experiences. The rebranding reflects Melco’s commitment to creating dynamic environments and pioneering new avenues in recreational destination experiences, with modern tourist attractions at the forefront.
About Melco Resorts & Entertainment Ltd
Melco Resorts & Entertainment Ltd, based in Macau, China, stands as a prominent global developer and operator of integrated resorts. Under the leadership of Chairman and CEO Lawrence Ho, Melco has gained recognition for its iconic properties like City of Dreams, Studio City, and Altira Macau, setting benchmarks in luxury, entertainment, and hospitality. Emphasizing innovation, Melco continuously elevates guest experiences with cutting-edge gaming technologies, diverse entertainment choices, and top-tier amenities.
Expanding beyond its core locations, Melco is venturing into international markets such as the Philippines, Cyprus, and Sri Lanka, showcasing its dedication to tourism and economic development in emerging regions. The partnership between Melco and John Keels Holdings in Sri Lanka is pivotal for the success of City of Dreams Sri Lanka, blending expertise, resources, and a shared vision to create an extraordinary destination known for its luxury hospitality and entertainment offerings.
Impact of City of Dreams Sri Lanka on the Sri Lankan economy
Through this ambitious project, Sri Lanka’s aesthetic appeal, entertainment offerings, and tourism allure are set to soar. The City of Dreams Sri Lanka, a USD 1 billion collaboration with John Keells Holdings, promises significant enhancements in these areas, as announced recently. With an initial investment of around $125 million dedicated to the casino sector, this project is poised to not only boost revenue streams but also create job opportunities and stimulate related industries.
The complex, featuring an 800-room hotel, a casino, and versatile event spaces for meetings and exhibitions, is positioned to cater to diverse visitor needs. City of Dreams Sri Lanka is primed for future growth and expansion, aiming to redefine luxury, entertainment, and hospitality standards in the country.
According to Lawrence Ho, Chairman and CEO of Melco Resorts, City of Dreams Sri Lanka represents more than just a destination—it’s a transformative journey for luxury and entertainment in Sri Lanka, drawing in tourists and elevating the country’s appeal. Geoff Davis, Chief Financial Officer at Melco Resorts, projects that Sri Lanka could achieve an annual gross gaming revenue of $200 million to $250 million in the initial phase, showcasing the immense potential of this venture.
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