City of Dreams Sri Lanka to open in August, marking record $1.2bn private tourism investment
Developed by John Keells Holdings and Melco Resorts, the project will introduce South Asia’s first luxury integrated resort with licensed casino operations under a 20-year permit.
Key points:
– City of Dreams Sri Lanka to launch 2 August as part of post-crisis tourism revival
– US$1.2bn development led by JKH and Melco Resorts, featuring gaming, hospitality and retail
– Opening includes Melco’s Nüwa hotel, casino and premium shopping mall
City of Dreams Sri Lanka is set to officially open its doors on 2 August, marking the largest single private investment in Sri Lanka’s tourism sector to date.
The $1.2bn integrated resort is a joint development by John Keells Holdings (JKH) and Hong Kong-listed Melco Resorts & Entertainment and is positioned to attract high-spending travellers from across South Asia.
Located in Colombo, the development will complete its final phase with the opening of Melco’s Nüwa hotel, a luxury casino and an upscale retail precinct.
The 113-key hotel joins the 687-room Cinnamon Life tower, which launched in October 2024, forming the full accommodation offering.
In June 2025, Sri Lanka’s Committee on Public Finance (COPF) approved the importation of casino equipment under a new monitoring framework, with further oversight planned under the proposed Gambling Regulatory Authority Bill.
Good to know: The integrated resort was awarded a 20-year casino licence earlier this year
The Sri Lankan government is also moving to double casino entry fees and increase gambling taxes as part of wider reforms aimed at boosting state revenue.
JKH Chairperson Krishan Balendra called the launch a “realisation of a key pillar” in the resort’s development, noting that it introduces a new standard for regional hospitality and entertainment.
Melco Chairman and CEO Lawrence Ho stated: “We are thrilled to be part of this landmark development in Sri Lanka… City of Dreams Sri Lanka is expected to serve as a catalyst for stimulating tourism demand and promoting economic growth.”
In addition to gaming and accommodation, the resort includes MICE facilities, live performance venues and curated dining from international chefs. It also incorporates sustainability-focused infrastructure and community partnerships supporting local culture and the arts.
City of Dreams Sri Lanka forms part of the government’s broader tourism recovery strategy and aims to position the country as a competitive regional hub for luxury travel and entertainment.
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