Melco and John Keels: New Partnership in Sri Lanka
Date: 2024-05-03 Author: Kirill Zagoruyko Categories: EVENTS
The joint effort between Melco and John Keels will result in the development of a casino at an integrated resort renamed City of Dreams Sri Lanka.
Strategic Partnership
Melco Resorts & Entertainment Limited, a leading developer and operator of integrated resorts in Europe and Asia, has announced a strategic partnership with the largest conglomerate on the Colombo Stock Exchange, John Keells Holdings PLC. Under the agreement, Melco will become the casino operator at the John Kills integrated resort, which will be renamed City of Dreams Sri Lanka.
New Opportunities in Sri Lanka
Melko agreed to pay John Kills about $125 million for the rights to operate the casino at the resort. This agreement follows Melco's receipt of a 20-year casino license from the Sri Lankan government. Melco has thus secured access to the country's regulated gaming sector, paving the way for future growth.
Potential and Expectations
Lawrence Ho, Chairman and CEO of Melco, highlighted the importance of this collaboration for the company and the potential of Sri Lanka as a key market. He expressed confidence that the project will contribute to the development of tourism and economic growth in the region. Melco is expected to leverage its experience in managing integrated resorts to successfully implement the project.
Luxury Hospitality
Melco plans to use its Nuwa brand for luxury hotel rooms at the resort, promising the highest quality of hospitality. The hotel portion, which will be managed by John Keels, is expected to begin operations in the third quarter of this year, while the casino at City of Dreams Sri Lanka will launch around mid-2025.
Partnership for the Future
The collaboration between Melco and John Keels promises to successfully develop a casino at the resort and attract tourists to Sri Lanka. This event will be an important step in ensuring economic growth and prosperity in the region.
Strategic Partnership
Melco Resorts & Entertainment Limited, a leading developer and operator of integrated resorts in Europe and Asia, has announced a strategic partnership with the largest conglomerate on the Colombo Stock Exchange, John Keells Holdings PLC. Under the agreement, Melco will become the casino operator at the John Kills integrated resort, which will be renamed City of Dreams Sri Lanka.
New Opportunities in Sri Lanka
Melko agreed to pay John Kills about $125 million for the rights to operate the casino at the resort. This agreement follows Melco's receipt of a 20-year casino license from the Sri Lankan government. Melco has thus secured access to the country's regulated gaming sector, paving the way for future growth.
Potential and Expectations
Lawrence Ho, Chairman and CEO of Melco, highlighted the importance of this collaboration for the company and the potential of Sri Lanka as a key market. He expressed confidence that the project will contribute to the development of tourism and economic growth in the region. Melco is expected to leverage its experience in managing integrated resorts to successfully implement the project.
Luxury Hospitality
Melco plans to use its Nuwa brand for luxury hotel rooms at the resort, promising the highest quality of hospitality. The hotel portion, which will be managed by John Keels, is expected to begin operations in the third quarter of this year, while the casino at City of Dreams Sri Lanka will launch around mid-2025.
Partnership for the Future
The collaboration between Melco and John Keels promises to successfully develop a casino at the resort and attract tourists to Sri Lanka. This event will be an important step in ensuring economic growth and prosperity in the region.
