In a bold move to expand its presence in the South Asian market, Melco Resorts & Entertainment has set its sights on investing in a casino project in Sri Lanka, targeting Indian tourists and boosting its annual gross gaming revenue (GGR) to potentially reach up to US$250 million.
Melco, a leading developer and operator of integrated resort casinos in Asia, is known for its successful properties in Macau, Manila, and Cyprus. With the Indian market emerging as a key source of tourism and gaming revenue, the company is now looking to capitalize on this burgeoning opportunity by entering the Sri Lankan market.
The proposed casino project, slated to be located in the capital city of Colombo, is expected to attract a large number of Indian tourists who are increasingly showing interest in visiting neighboring countries for leisure and entertainment. The strategic location of Sri Lanka, along with its rich cultural heritage and natural beauty, makes it an attractive destination for travelers from India and beyond.
Melco’s investment in Sri Lanka comes at a time when the country is actively promoting tourism and seeking to attract foreign direct investment to boost its economy. The casino project is expected to create jobs, stimulate economic growth, and generate revenue for the government through taxes and licensing fees.
According to industry experts, Melco’s move to target the Indian market with its Sri Lanka casino investment could significantly impact the region’s gaming industry and drive up annual GGR to unprecedented levels. With a projected revenue of up to US$250 million, the casino project has the potential to become a major player in the South Asian gaming market.
In a statement, Melco’s Chairman and CEO, Lawrence Ho, expressed confidence in the company’s ability to succeed in Sri Lanka and tap into the growing Indian market. “We see great potential in the Sri Lankan market and believe that our investment will not only benefit our shareholders but also contribute to the development of the local economy,” he said.
As Melco prepares to embark on its latest venture in Sri Lanka, industry insiders are eagerly anticipating the impact that the casino project will have on the region’s gaming landscape. With the company’s track record of success and commitment to excellence, all eyes are on Melco as it sets its sights on capturing a larger share of the lucrative Indian market.