Melco Resorts & Entertainment, one of the world’s leading casino and entertainment companies, is continuing its global expansion with a new partnership in Sri Lanka.
The company has signed a joint venture agreement with local hospitality firm City Developments Limited (CDL) to develop a new integrated resort in the city of Colombo. This move marks Melco’s first foray into the South Asian market, following successful ventures in Macau, the Philippines, and Cyprus.
The new resort, which will be known as City of Dreams Colombo, is set to be a sprawling complex encompassing luxury hotels, gaming facilities, entertainment venues, and a wide range of dining options. Construction is set to begin in the coming months, with an estimated completion date of 2022.
Melco’s Chairman and CEO, Lawrence Ho, expressed his enthusiasm for the project, stating, “We are thrilled to be partnering with CDL to bring our unique brand of entertainment and hospitality to the vibrant city of Colombo. This development represents a significant milestone for Melco as we continue to expand our global footprint.”
The partnership with CDL is seen as a strategic move by Melco to capitalize on Sri Lanka’s growing tourism industry. The country has seen a steady increase in visitor numbers in recent years, with the government actively promoting the development of new luxury resorts to attract high-end tourists.
In addition to boosting tourism in the region, the new resort is also expected to create significant economic benefits for the local community. It is estimated that the project will create thousands of jobs during the construction phase, with hundreds of permanent positions available once the resort is operational.
The announcement of the partnership between Melco Resorts and CDL has been met with excitement and anticipation in Colombo. Local officials are hopeful that the new integrated resort will help to further establish the city as a premiere destination for both leisure and business travelers.
As Melco Resorts continues its expansion into new markets, it remains committed to upholding its reputation for delivering world-class entertainment experiences. With the development of City of Dreams Colombo, the company is poised to make a lasting impact on the hospitality industry in Sri Lanka and beyond.
