ECONOMYNEXT – Sri Lanka’s John Keells Holdings said it is tying up with Melco Resorts and Entertainment Limited to run a casino at its billion dollar integrated resort in Colombo.
Melco will also invest 125 million dollars in equipping the gaming space, JKH said in a stock exchange filing.
The JKH project, earlier named Cinnamon Life Integrated Resort, will be rebranded as ‘City of Dreams Sri Lanka’.
City of Dreams is a brand of Melco, which operates resorts in Macau, the Philippines and Cypress, JKH said.
A wholly-owned Sri Lanka subsidiary of Melco, has been awarded a 20-year casino license by the government.
In the resort, Melco will operate a 113 high end hotel under its Nuwa brand. A 687 room Cinnamon hotel will also operate. (Colombo/May01/2024)