Key points:
- Ho confirms City of Dreams Sri Lanka casino will open in Q3 2025
- Project forms part of US$1bn resort by John Keells Holdings with Melco managing casino and hotel
- Melco continues asset-light expansion beyond Macau, the Philippines and Cyprus
The City of Dreams Sri Lanka casino remains on course for an opening in the third quarter of 2025, according to Lawrence Ho Yau Lung, chairman and chief executive of Melco International Development.
Ho made the remarks in the group’s 2024 annual report filed on Monday. Melco International, listed in Hong Kong, is the parent company of Nasdaq-listed Melco Resorts & Entertainment Ltd, which will manage both the casino and hotel operations at the Colombo development.
The resort, a US$1bn project created by John Keells Holdings, marks a significant expansion for Melco Resorts. The firm had previously announced an investment of US$125m towards the casino section. Ho stated that the Sri Lankan venture would support the group’s long-term ambition of growing the City of Dreams brand into new regions.
Melco currently operates casino resorts in Macau, the Philippines and Cyprus, with the Sri Lanka project seen as a strategic move to diversify its revenue streams. The company emphasised that the casino will form only a portion of the broader entertainment offering at the resort.
Despite challenges to tourism recovery in Asia, Ho expressed confidence that City of Dreams Sri Lanka would contribute to the country’s development as a year-round destination. Melco’s strategy remains focused on international opportunities while maintaining a strong presence in Macau and other established markets.
The project in Colombo is expected to play a role in strengthening the local tourism sector and enhancing Melco’s position as a leading operator in the global gaming and hospitality industries.
