Melco opens first phase of City of Dreams IR in Sri Lanka
Entertainment and gaming areas are expected to open by mid-2025.
Sri Lanka.- Melco Resorts and John Keells Holdings (JKH) have opened Phase I of City of Dreams Sri Lanka, a US$1bn integrated resort (IR) in central Colombo. The IR has 687 rooms and multiple entertainment venues, including ballrooms and event and conference facilities with a capacity of over 5,000.
Phase II, including casino operations, is expected to open in mid-2025 with the potential for expansion subject to performance and market conditions. The Government of Sri Lanka has awarded Melco’s wholly-owned local subsidiary a 20-year casino licence. It will operate the gaming area with an initial investment of US$125m and will also manage the top five floors of the hotel under the Nuwa brand.
Krishan Balendra, chairperson of the John Keells Group, said: “City of Dreams Sri Lanka is an iconic project that was conceived over a decade ago; a one-of-a-kind venture that will undoubtedly convert Colombo into a preferred destination for leisure and entertainment in the region, offering best-in-class lifestyle, shopping and entertainment spaces.
“The Group is confident that the convergence of all elements in the launch of City of Dreams Sri Lanka will unlock its full potential as a transformative development in South Asia and be a catalyst in creating tourism demand, foreign exchange earnings for Sri Lanka and generating employment. The City of Dreams Sri Lanka project, once all components are in full operations, is expected to generate over 20,000 direct and indirect employment and community engagement opportunities.”
