City of Dreams Sri Lanka to launch in late 2025, developers tout tourism and economic growth

City of Dreams Sri Lanka, the casino-resort project in Colombo developed through a partnership between Sri Lanka’s John Keells Holdings and Macao-based Melco Resorts & Entertainment, is set to be fully operational by the third quarter of 2025. The timeline was confirmed by John Keells Holdings Chairman Krishan Balendra, who provided updates on the project's progress in the company’s latest financial report.  

The development, initially branded as Cinnamon Life Integrated Resort, underwent a rebranding following the formalized partnership with Melco Resorts in April 2024. The collaboration followed Sri Lankan authorities’ approval of a 20-year gaming license for Melco’s local subsidiary, allowing the company to operate the casino within the integrated resort.  

The $1.2 billion project, situated in Colombo, has been under construction since 2014. Several components, including the 687-room Cinnamon Life Hotel, a range of restaurants, and banquet facilities, commenced operations in October 2024. The remaining facilities, including the 113-room Nuwa hotel, casino, and retail mall, are expected to open together in the third quarter of 2025.  

Balendra described the project as being on track, stating: “Fit-out works relating to the remainder of the project comprising the 113-key ‘Nuwa’ hotel and gaming operations are progressing well.” He confirmed that these facilities are projected to be operational along with the retail mall in the third quarter of the 2025 calendar year.  

“The Group is confident that the convergence of all elements in the launch of ‘City of Dreams Sri Lanka’ will unlock its full potential as a transformative development in South Asia and be a catalyst in creating tourism demand, foreign exchange earnings for Sri Lanka, and generating employment,” Balendra noted.  

Melco Resorts Chairman and CEO Lawrence Ho has previously expressed confidence in Sri Lanka’s potential as a tourism and entertainment hub. “We believe Sri Lanka has immense potential, and this opportunity complements our existing portfolio of properties,” Ho stated at the time of the partnership announcement.

Melco has pledged an initial investment of $125 million into the project, with expectations that the casino will generate gross gaming revenue between $200 million and $250 million annually.  

Beyond Sri Lanka, Melco Resorts operates several City of Dreams-branded properties in Macao, the Philippines, and Cyprus. The company is also monitoring opportunities in Thailand as the country moves toward potential gaming industry liberalization.