Melco’s City of Dreams Sri Lanka gears up for landmark Q3 2025 opening
Hong Kong-listed Melco International Development Ltd, the parent of casino firm Melco Resorts & Entertainment Ltd, has confirmed that its casino at City of Dreams Sri Lanka in Colombo is set to open in the third quarter of 2025. In a recent filing, Melco International announced that its gaming license is valid for 20 years, effective from 1 April 2024.
The Sri Lankan government granted the casino license to Bluehaven Services (Private) Ltd, a wholly owned subsidiary of Melco Resorts. The company recognised an intangible asset worth LKR 5 billion (US$16.9 million), representing the license fee. The license fee will be amortised on a straight-line basis from the start of operations until its expiration.
Melco’s investment and strategic approach
The US$1-billion City of Dreams Sri Lanka project is a partnership between Melco Resorts and Sri Lankan conglomerate John Keells Holdings Plc (JKH). The infrastructure was initially developed before Melco’s involvement, and Melco is investing US$125 million in fitting out and equipping the casino.
Issuing a statement on the development, Melco Resorts Chairman and CEO Lawrence Ho Yau Lung said, “We look forward to the opening of the casino at City of Dreams Sri Lanka, which is on track to open in the third quarter of 2025. This transformative project represents a capital-light investment with an attractive return profile, allowing us to extend the City of Dreams brand and broaden our customer base.”
Melco has been adopting an asset-light strategy to expand its global footprint, actively exploring opportunities in emerging gaming markets.
City of Dreams Sri Lanka — a major milestone
City of Dreams Sri Lanka will be the first integrated resort in Sri Lanka and South Asia, set to redefine luxury hospitality, entertainment, and leisure in the region. The resort will feature 800 hotel rooms, retail spaces, food and beverage outlets, MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities, and more, with a focus on extraordinary architecture and design.
Earlier in April 2024, Melco announced that it had partnered with John Keells Holdings PLC to develop the project, bringing a US$125 million investment for the fit-out and equipping of the gaming space. This partnership is transforming the former Cinnamon Life Integrated Resort into the City of Dreams Sri Lanka.
Melco’s City of Dreams Macau is renowned for its luxury offerings, including the Michelin-starred Cantonese fine dining restaurant Jade Dragon and the House of Dancing Water show. The Sri Lanka project expands the brand’s presence in South Asia, reinforcing Melco’s strategic growth in emerging gaming markets.
