City of Dreams Sri Lanka Hotel Opens, Eyes Adding Casino in 2025

October 18, 2024 Philippines Casino & Hotel

Luxury resort chain City of Dreams officially opened a hotel in Sri Lanka on October 15, 2024, making it the first integrated resort with gaming facilities in both Sri Lanka and South Asia.

The 687-room hotel “Cinnamon Life at City of Dreams Sri Lanka” opened its doors in capital city Colombo, which is also the country’s financial and tourism hub. This landmark project represents the largest private investment in Sri Lanka, valued at over US$1.2 billion.

The property is part of a joint venture between Macau-based gaming giant Melco Resorts & Entertainment and Sri Lankan conglomerate John Keells Holdings. While the hotel is already open to the public, they will slowly add more facilities which includes a casino in mid-2025, according to a Ceylon Daily report.

The Cinnamon Life project is an integrated development that includes an upscale shopping mall, state-of-the-art entertainment areas, a gaming facility, and the ultra-luxury 113-room “Nuwa” hotel, which is slated to open by mid-2025.

In April 2024, Melco Resorts secured a 20-year casino license, rebranding the former Cinnamon Life Integrated Resort as City of Dreams Sri Lanka.

This ambitious project reflects Melco’s strategic investment of over US$125 million, which Melco Chairman and CEO Lawrence Ho described as a “small wager” with the potential for significant returns.

Melco estimates the property could generate Gross Gaming Revenue (GGR) between US$200 million and US$250 million annually. Additionally, Ho has indicated that there may be opportunities for expanding the gaming facilities, depending on market performance and demand.

This is a big step to Sri Lanka’s growing gambling industry, which has already attracted foreign investments from global players.

Sri Lanka’s gambling market remains relatively young compared to regional counterparts, but the opening of City of Dreams marks a significant leap forward. This development underscores the potential for the country to become a regional gaming hub, contributing to tourism and economic growth.