Melco Resorts to Open High-Profile Casino in Sri Lanka on August 2, Marking Colombo's First Fully Integrated Resort.

Melco Resorts & Entertainment will open a casino in Sri Lanka on August 2 as part of the City of Dreams Sri Lanka integrated resort. The company partnered with John Keells Holdings PLC on the project, which is Colombo's first fully integrated resort. The casino is expected to shake up the South Asia gaming scene.

Melco Resorts & Entertainment (MLCO) is set to open its City of Dreams Sri Lanka integrated resort on August 2, marking the company's entry into the South Asian gaming market. The project, a partnership between Melco and John Keells Holdings PLC, will be Colombo's first fully integrated resort and is expected to significantly impact the region's gaming scene.

The City of Dreams Sri Lanka project, valued at US$1.2 billion, will feature a gaming floor of approximately 180,000 square feet, a Nüwa hotel, and the existing 687-room Cinnamon Life hotel. The resort is strategically positioned to tap into India's expanding outbound gambling market, with Sri Lanka being India's largest source market in 2024, accounting for over 416,000 arrivals, a 37.7% increase from the previous year [1].

Krishan Balendra, chairman of John Keells Holdings PLC, believes the project is well-aligned with the growth of India's economy and outbound travel. He expects the number of Indian visitors to double to one million with enhanced gaming, hotel, and MICE infrastructure, alongside a national tourism promotion campaign. "We should easily be able to attract 1 million Indians, with new facilities, while the take-off of the long-overdue country promotion campaign would help immensely," Balendra stated [1].

Melco Resorts & Entertainment reported strong financial performance in its second quarter of 2025, with total operating revenues of US$1.33 billion, up 15% year-over-year. The company's Adjusted Property EBITDA reached US$377.7 million, representing a 24.7% increase from the previous year. Despite a decline in net income to US$17.2 million, the company's performance in Macau was standout, with Macau Property EBITDA growing 35% year-over-year and 13% quarter-over-quarter [2].

The opening of City of Dreams Sri Lanka on August 2 is part of Melco's strategic expansion plans. The company is optimistic about the opportunities this new venture presents, particularly in attracting high-value tourists and VIP casino clientele. As Melco continues to expand its presence in Asia and Europe, the success of City of Dreams Sri Lanka will be a crucial indicator of its ability to penetrate new markets and maintain its growth trajectory.

References:
[1] https://focusgn.com/asia-pacific/melcos-city-of-dreams-casino-in-colombo-to-target-indian-outbound-gamblers
[2] https://www.stocktitan.net/news/MLCO/melco-announces-unaudited-second-quarter-2025-7gou8e6xz5l2.html