{"id":777022642,"date":"2025-02-06T08:40:34","date_gmt":"2025-02-06T11:40:34","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777022642"},"modified":"2026-04-22T02:04:45","modified_gmt":"2026-04-22T05:04:45","slug":"city-of-dreams-sri-lanka-phase-ii-to-open-in-q3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/city-of-dreams-sri-lanka-phase-ii-to-open-in-q3","title":{"rendered":"City of Dreams Sri Lanka Phase II to open in Q3"},"content":{"rendered":"\n

Phase II includes a casino and the 113-key Nuwa hotel.<\/p>\n\n\n\n\n\n\n\n

Sri Lanka.- Krishan Balendra<\/strong>, chairperson of John Keells Holdings (JKH)<\/strong>, has said Phase II of\u00a0City of Dreams Sri Lanka <\/strong>is expected to open in the third quarter of 2025. Phase II includes the 113-key Nuwa Hotel and gaming operations. <\/p>\n\n\n\n

The casino will be operated by Melco Resorts & Entertainment, partner for the US$1bn integrated resort (IR) located in central Colombo. Phase I opened in October<\/a> with 687 rooms<\/strong>, restaurants and multiple entertainment venues, including ballrooms and event and conference facilities with a capacity of over 5,000.\u00a0There is potential for expansion of the gaming facilities, subject to performance and market conditions.<\/p>\n\n\n\n

Balendra <\/strong>said: \u201cCity of Dreams Sri Lanka is an iconic project that was conceived over a decade ago; a one-of-a-kind venture that will undoubtedly convert Colombo into a preferred destination for leisure and entertainment in the region, offering best-in-class lifestyle, shopping and entertainment spaces.<\/p>\n\n\n\n

\u201cThe 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. The City of Dreams Sri Lanka project, once all components are in full operations, is expected to generate over 20,000 direct and indirect employment and community engagement opportunities.\u201d<\/p>\n\n\n\n

Morgan Stanley<\/strong>\u00a0previously said that Melco would pay John Keells 50-55 per cent of casino earnings before interest taxes depreciation and amortisation (EBITDA). It would also pay 30-40 per cent income tax on its share. Based on a 50 per cent EBITDA share and 40 per cent tax, analysts suggested that Melco Resorts could receive US$30m in cash flow.<\/p>\n\n\n\n

See also:<\/strong> Melco opens an office in Thailand<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Phase II includes a casino and the 113-key Nuwa hotel.<\/p>\n","protected":false},"author":176,"featured_media":25856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Phase II of the City of Dreams Sri Lanka integrated resort, featuring a casino operated by Melco Resorts & Entertainment and the 113-key Nuwa Hotel, is slated for a Q3 2025 opening. This US$1bn project, developed by John Keells Holdings, is expected to significantly boost Sri Lanka's tourism sector and generate substantial employment. Financial projections indicate Melco will share 50-55% of casino EBITDA with JKH, with potential for US$30m in cash flow for Melco.","focusai_entities":"Krishan Balendra, John Keells Holdings (JKH), Melco Resorts & Entertainment, Morgan Stanley","focusai_location":"Sri Lanka, Colombo","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), marketing_crm (0.7), payments_fraud_aml (0.7), investor_analyst (0.9), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Melco's Cash Flow Projections","query":"Given the reported 50-55% EBITDA share and 30-40% income tax, what are the detailed assumptions underpinning Morgan Stanley's US$30m cash flow projection for Melco Resorts from the City of Dreams Sri Lanka casino operations?"},{"label":"Regulatory Framework Evolution","query":"How might the operational launch of a major integrated resort with gaming facilities in Sri Lanka influence the evolution of the nation's iGaming regulatory compliance and governance frameworks?"}],"footnotes":""},"categories":[28,16334],"tags":[24611,23632,23970],"class_list":["post-777022642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-south-asia-news","tag-city-of-dreams-sri-lanka","tag-integrated-resorts","tag-melco-resorts-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777022642"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022642\/revisions"}],"predecessor-version":[{"id":777022658,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777022642\/revisions\/777022658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25856"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777022642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777022642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777022642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}