Melco Resorts & Entertainment Limited (Melco) has officially announced its partnership with John Keells Holdings PLC, a conglomerate based in Sri Lanka. Together, they aim to build an integrated resort in central Colombo, with an investment surpassing US$1 billion.
The project was previously known as “Cinnamon Life Integrated Resort,” but it is now being rebranded as “City of Dreams Sri Lanka.” Melco and PLC are aiming to redefine luxury hospitality, entertainment, and leisure in the region through the resort.
The resort will feature 800 Hotel rooms, along with retail outlets, diverse dining experiences, state-of-the-art MICE (Meetings Incentives, Conferences, and Exhibitions) facilities, and much more.
Melco’s local subsidiary has obtained a 20-year casino license from the Sri Lankan government. Melco will be responsible for managing the casino’s operations at the resort, as well as managing the top five floors of the Hotel under its Nuwa brand, resulting in luxury accommodation.
Key commercial arrangements between Melco and John Keells have been completed, paving the way to the start of casino fit-out activities, marking an initial investment of approximately US$125 million. Non-gaming facilities, such as the Cinnamon Life Hotel managed by John Keells, are nearing completion and are projected to open in the third quarter of 2024.
Casino operations are scheduled to kick off in mid-2025, with the possibility of expansion upon performance and market conditions.
Lawrence Ho, Chairman and CEO of Melco, has expressed his enthusiasm for this groundbreaking project. He commented that the resort has the potential to help tourism and economic development in Sri Lanka. He emphasized the partnership with John Keells and the Sri Lankan government, highlighting their dedication to making a positive difference in the local community.
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