The highly anticipated City of Dreams Sri Lanka, a massive casino-resort in Colombo, is on track to open by the third quarter of 2025. Developed in partnership between Sri Lanka’s John Keells Holdings and Macau-based Melco Resorts & Entertainment, the project is expected to reshape the country’s tourism and hospitality landscape.
A Decade in the Making
Construction on the $1.2 billion project began in 2014 under its original branding as Cinnamon Life Integrated Resort. However, following a landmark deal in April 2024, the development was rebranded as City of Dreams Sri Lanka, aligning it with Melco Resorts’ global portfolio.
John Keells Holdings Chairman Krishan Balendra recently confirmed that everything is progressing as scheduled. The resort’s 687-room Cinnamon Life Hotel, along with a variety of dining options and banquet halls, already opened in October 2024. The final phase, including the 113-room Nuwa hotel, casino, and retail mall, is slated for completion in late 2025.
“It’s all coming together,” Balendra said. “Fit-out works for the Nuwa hotel and gaming operations are progressing well, and we expect them to be fully operational by the third quarter of 2025.”
The Casino That Changed the Game
The partnership with Melco Resorts was made possible after Sri Lankan authorities granted a 20-year gaming license to the company’s local subsidiary. This gave Melco the green light to operate a high-end casino within the integrated resort—a crucial element in the project’s appeal to international visitors.
The casino is expected to be a significant revenue generator. According to projections, it could bring in between $200 million and $250 million annually in gross gaming revenue.
Melco Resorts Chairman and CEO Lawrence Ho expressed optimism about Sri Lanka’s potential as a major tourism hub. “Sri Lanka has immense potential, and this opportunity complements our existing portfolio of properties,” he said.
Melco, known for its luxury casino resorts in Macau, the Philippines, and Cyprus, is also eyeing Thailand as it explores new markets for expansion.
A Boost for Sri Lanka’s Economy
City of Dreams Sri Lanka is being positioned as a transformative project for the country’s tourism and economic sectors. John Keells Holdings sees the resort as a game-changer, bringing in foreign exchange, boosting employment, and strengthening the nation’s appeal to global travelers.
Balendra emphasized that the full launch will “unlock its full potential” and create a strong demand for tourism in the region.
Beyond gaming, the resort will feature:
- A high-end retail mall with luxury brands
- Fine dining restaurants and entertainment venues
- Conference and event spaces to attract business tourism
- A mix of hotel accommodations catering to premium travelers
Sri Lanka’s tourism industry, which has faced setbacks in recent years due to economic challenges and global disruptions, could see a resurgence with the arrival of a world-class integrated resort.
The Bigger Picture: Sri Lanka Joins the Global Casino Market
Sri Lanka is not traditionally known for large-scale casino tourism, but the introduction of City of Dreams Sri Lanka could signal a shift. With Melco’s expertise and the government’s willingness to regulate gaming, Colombo may find itself on the radar of high-net-worth gamblers from across Asia.
The project also raises questions about Sri Lanka’s stance on gaming regulation. With Thailand exploring casino legalization and Macau facing increasing competition, Sri Lanka has an opportunity to position itself as a competitive alternative in the region.
If successful, City of Dreams Sri Lanka could pave the way for further investments in the country’s gaming and hospitality sectors. For now, all eyes are on late 2025, when the final phase of this billion-dollar project is set to open its doors.
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