Melco's City of Dreams Sri Lanka Holds Grand Opening
City of Dreams Sri Lanka, a major joint venture between Melco Resorts & Entertainment and Sri Lankan conglomerate John Keells Holdings, officially opened its doors on Saturday. The grand opening event marked the formal launch of a development that both companies have described as a milestone in Sri Lanka's ongoing transformation into a global tourism and entertainment hub.
LISTEN TO THIS ARTICLE:Situated within the $1.2 billion Cinnamon Life integrated resort complex in Colombo, City of Dreams Sri Lanka comprises a significant $125 million investment by Melco. The development includes a luxury casino operated under a 20-year license agreement, along with the debut of Melco's upscale hotel brand, NÜWA, offering 113 rooms. The broader Cinnamon Life @ City of Dreams hotel, which includes an additional 687 rooms, will be operated independently by John Keells under its Cinnamon Hotels and Resorts brand.
Related: City of Dreams Sri Lanka Casino Slated for Late 2025 OpeningAt the grand opening press conference, Melco Chairman and CEO Lawrence Ho emphasized the potential for Sri Lanka to position itself as a high-end gaming and leisure destination. He stated that the proximity of Colombo to India presents a unique opportunity for Sri Lanka to become to India what Macau has become to China, highlighting the integrated resort's ability to stimulate tourism and economic growth.
Ho also noted that the project extends beyond the creation of a luxury resort, with expectations that it will enhance Sri Lanka's international standing. It will also serve as a catalyst for economic development through increased demand for domestic goods, services, and workforce participation.
Krishna Balendra, Chairman of John Keells Holdings, echoed similar sentiments during the launch event. He noted that Sri Lanka's geographic location offers strategic advantages, particularly as a gateway to emerging feeder markets such as India, which is witnessing rapid expansion in its middle and upper economic tiers. He expressed confidence that combining global hospitality expertise with Sri Lanka's cultural authenticity would attract affluent international visitors seeking distinctive travel experiences.
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A Major Undertaking in Sri Lanka
The development of City of Dreams Sri Lanka involved collaboration between over 500 local professionals, ranging from artisans and designers to hospitality staff, and international experts from Melco's global operations. The result is a resort that integrates hand-crafted design elements and curated art installations, showcasing Sri Lankan talent on a global stage. Melco characterized the venue as a space where local creativity meets international standards, providing both aesthetic distinction and economic uplift.
Beyond the casino and luxury accommodations, the integrated resort offers a wide array of amenities. These include 17 signature restaurants and bars, a retail promenade that blends international designer labels with locally made boutique products, and extensive meeting, incentive, conference, and exhibition (MICE) facilities. The resort also features residential and commercial office spaces, enhancing its appeal as a multifaceted urban destination.
In a note issued by CBRE Equity Research prior to the launch, analyst John Decree referred to the project as a distinctive, asset-light opportunity for Melco. He indicated that while the venture may serve as a potential template for expansion into other emerging markets, the brand's entry into the Sri Lankan market will likely require time to mature and establish a strong foothold.
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