Sri Lanka , Aiming to Become “India’s Macau”

Sri Lanka’s largest private investment and South Asia’s first integrated resort officially opened its casino on August 2nd, marking a significant milestone for the country’s tourism and gaming industry. The $1.2 billion City of Dreams Sri Lanka project in Colombo is a landmark collaboration between Hong Kong-listed Melco Resorts & Entertainment and local conglomerate John Keells Holdings, representing Melco’s first venture into South Asia after successful operations in Macau, Manila, and Cyprus.

Lawrence Ho, Chairman of Melco, declared the island nation’s potential to become “India’s Macau,” drawing a direct parallel to Macau—the world’s largest gaming market and a global gambling capital. Macau’s success stems from its integrated resort model, combining casinos, luxury hotels, entertainment, and retail in one destination, and its strategic location close to mainland China, attracting millions of affluent tourists annually.

Similarly, Sri Lanka’s City of Dreams aims to capitalize on Colombo’s proximity to India, the world’s second most populous country with a rapidly growing middle and upper class, many of whom seek premium international gaming and leisure experiences. “Colombo is the closest destination to India, and an integrated resort like this gives the city a lot of potential,” said Ho.

The resort boasts two luxury hotels with a total of 800 rooms, a 20-year licensed casino, seventeen restaurants and bars, luxury retail outlets, and extensive conference facilities. It specifically targets affluent tourists from India, the Middle East, Russia, and China, providing a full-package experience akin to Macau’s offerings.

Krishan Balendra, Chairperson of John Keells Holdings, highlighted the project’s significance for Sri Lanka’s economic recovery following years of political turmoil, the 2019 Easter bombings, the COVID-19 pandemic, and a severe economic crisis. “This project with an investment of $1.2 billion is expected to generate a significant multiplier effect for the Sri Lankan economy,” Balendra said, noting the thousands of jobs created across construction, retail, technology, and hospitality sectors.

The integrated resort was made possible by a formal legal framework for gaming introduced in 2023, enabling Melco to enter the market. The development positions Colombo as a potential regional gaming hub, leveraging its strategic location and the integrated resort model to attract wealthy tourists from key feeder markets.

Early signs show strong market demand, with bookings already outpacing previous years. The grand opening was celebrated with Bollywood star Hrithik Roshan performing at a star-studded launch event, underscoring the resort’s ambitions to elevate Sri Lanka’s global profile and tourism economy.

In summary, just as Macau transformed into a thriving gambling and luxury travel hub by combining strategic location, integrated resorts, and strong tourism infrastructure, Sri Lanka aims to follow suit, becoming a premier South Asian gaming destination and “India’s Macau” in the years to come.