SL poised to become ‘India’s Macau’
Points at Macau, the world’s largest gaming market at approximately US$ 30bn a year, as a benchmark for what Sri Lanka could achieve by catering to the vast Indian market
India, China, Russia, and the Middle East Identified as key feeder markets
Robust regulatory framework was a prerequisite for attracting a world-class operator such as Melco says JKH Chairperson
By Nishel Fernando
Lawrence Ho with Krishan Balendra
Pic by Kushan Pathiraja
With the launch of the landmark City of Dreams Sri Lanka last Saturday, the nation is being positioned as a potential gaming and tourism hub for South Asia, with Melco Resorts & Entertainment Chairman and CEO, Lawrence Ho, drawing a powerful parallel: “Sri Lanka to India to be what Macau is to China.”
Speaking at a panel discussion marking the August 2, 2025, opening of South Asia’s first integrated resort, Ho highlighted the immense potential of the newly regulated gaming market in Sri Lanka. He pointed to Macau, the world’s largest gaming market at approximately US$ 30 billion a year, as a benchmark for what Sri Lanka could achieve by catering to the vast Indian market.
“Sri Lanka has the closest distance to have an authentic true integrated resort like this one,” Ho stated, emphasising the strategic advantage the country holds. He identified India, China, Russia, and the Middle East as key feeder markets, noting that Melco’s global network and experience in Cyprus, Macau and Philippines would help attract high-end travellers.
The City of Dreams Sri Lanka is the product of a collaboration between local conglomerate John Keells Holdings (JKH) and global hospitality and entertainment leader Melco Resorts & Entertainment. With an investment value exceeding US$ 1.2 billion, the project represents the single largest private sector investment in Sri Lanka’s history.
John Keells Group Chairperson, Krishan Balendra revealed that a robust regulatory framework was a prerequisite for attracting a world-class operator such as Melco. He explained that JKH had actively lobbied for the standardisation of Sri Lanka’s gaming industry, which previously operated informally.
“We were conscious that we would need a regulatory framework because if we were to bring a world-class operator like Melco, we couldn’t have an informal agreement,” Balendra said.
This push for reform culminated in new legislation passed by the Sri Lankan parliament. “The regulations and the legal framework came in 2023, which was gazetted and went through parliament and that enabled the formal licensing of gaming in Sri Lanka,” Balendra said.
He added that bringing in an operator of Melco’s caliber, which adheres to the “gold standard” of regulations in jurisdictions like Macau and Cyprus, will “raise the bar for the industry” in Sri Lanka.
Melco will operate the state-of-the-art casino and the ultra-luxury NÜWA hotel within the integrated resort, pledging to uphold the highest global standards.
The “City of Dreams Sri Lanka” project, initially known as “Cinnamon Life,” began its journey over a decade ago. In 2010-2011, JKH first conceived the project as Sri Lanka emerged from a 25-year civil war, aiming to leverage the country’s post-war potential and the growing outbound tourist market from India.
Melco’s Chairman, Lawrence Ho, visited the site in 2013, recognizing its promise. The project, JKH’s most ambitious in its 155-year history, progressed through economic challenges and the global pandemic.
In 2023, the Sri Lankan government established a formal legal and regulatory framework for gaming, which facilitated the partnership with Melco. City of Dreams Sri Lanka was set to officially open its doors on August 2, 2025.
Balendra emphasised the project’s expected contribution to the national economy, predicting a significant multiplier effect. He highlighted the creation of thousands of jobs, a strong message of stability to foreign investors, and a cascading effect of opportunities for local SMEs.
City of Dreams Sri Lanka, located on Justice Akbar Mawatha in Colombo, is a vast complex designed to offer a complete ecosystem of experiences under one roof. The resort includes two hotels: the 687-room Cinnamon Life @ City of Dreams and the 113-room ultra-luxury NÜWA @ City of Dreams.
Additionally, it features a Melco-operated casino and entertainment zone, seventeen signature restaurants and bars, a luxury retail promenade, extensive MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities, and high-end residences and office spaces.
The development is seen as a product of collaboration between over 500 local artisans and international experts, and is being viewed as a symbol of Sri Lanka’s resilience, ambition, and a bold step into a new era of economic and tourism growth.
