South Asia’s first integrated resort to attract casino high rollers from India, China
View(s):“We are attracting not only Indians, with a large neighbouring booming economy, but also travellers from China and South-East Asia where Melco has its operations,” John Keells Holding (JKH) Chairman Krishan Balendra told The Sunday Times Business.
The Sri Lankan conglomerate’s gigantic US$1.2 billion-worth City of Dreams officially opened on August 2 filled two nights of red-carpet events and the presence of Bollywood star Hrithik Roshan along with international and local musicians.
The City of Dreams is a flagship brand of Macau-based Melco Resorts & Entertainment which also has a City of Dreams in Manila, Macau and Cyprus with gaming facilities and an ultra-luxury Nuwa hotel concept.
Melco Resorts & Entertainment Chairman and CEO, Lawrence Ho, speaking at a media conference in Colombo on Saturday, said the new facility can be positioned as “Sri Lanka to India similar to what Macau is to China”.
“Sri Lanka is also perfectly positioned as a gateway to key feeder markets, including India, China, and Russia, with India in particular showing tremendous growth in its affluent middle and upper classes. By leveraging our global network of properties and expertise, we aim to attract high-value international travellers who are seeking world-class experiences in an authentic and unique destination like Sri Lanka,” Ho said adding that the global gaming market is estimated at approximately US$ 30 billion a year.
The casino drew at least 500 overseas visitors from India and China at the weekend, officials at the complex said.
The complex’s Cinnamon Life hotel with 687 rooms, which opened last November, has together 4.5 million sq feet of space for corporate events. The City of Dreams has been billed as the biggest venue in Sri Lanka for MICE traffic, local and foreign. Melco has separately invested US$123 million in the casino and a 113-room Nuwa hotel.
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