Melco has been announced as the long term partner for the rebranded City of Dreams in Sri Lanka.
The decision means that Melco has been given a 20-year casino licence by the Government of Sri Lanka
Through a collaboration with John Keells Holdings, the group is seeking to elevate its integrated resort development valued at over US$1bn.
Furthermore, the integrated resort, which had previously been branded “Cinnamon Life Integrated Resort”, will be rebranded as “City of Dreams Sri Lanka”.
Lawrence Ho, Chairman and Chief Executive Officer of Melco, commented: “We are thrilled to be part of this landmark development in Sri Lanka and to be in partnership with John Keells. We believe Sri Lanka has immense potential and this opportunity complements our existing portfolio of properties.
“Furthermore, City of Dreams Sri Lanka is expected to serve as a catalyst for stimulating tourism demand and promoting economic growth in Sri Lanka, drawing inspiration from the successful examples set by similar integrated resorts in other jurisdictions.
“We will continue to work closely with our esteemed partners and the Sri Lankan Government to ensure the success of this venture, and we expect to make a significant and positive impact on the local community and economy.”
City of Dreams Sri Lanka will be the first integrated resort in Sri Lanka and South Asia and is seeking to ‘revolutionise’ luxury hospitality, entertainment, and leisure in the region.
