{"id":8067,"date":"2024-10-23T05:18:16","date_gmt":"2024-10-23T05:18:16","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/10\/23\/cinnamon-life-opens-marking-first-phase-of-sri-lankas-1-2-billion-integrated-resort\/"},"modified":"2024-10-23T05:18:16","modified_gmt":"2024-10-23T05:18:16","slug":"cinnamon-life-opens-marking-first-phase-of-sri-lankas-1-2-billion-integrated-resort","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/10\/23\/cinnamon-life-opens-marking-first-phase-of-sri-lankas-1-2-billion-integrated-resort\/","title":{"rendered":"Cinnamon Life Opens, Marking First Phase of Sri Lanka\u2019s $1.2 Billion Integrated Resort"},"content":{"rendered":"
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Cinnamon Life at City of Dreams Sri Lanka officially opened its doors on October 15, marking the beginning of a $1.2 billion integrated resort (IR) project in Colombo. The development, led by Melco Resorts<\/a> and John Keells Holdings (JKH), is set to revolutionize Sri Lanka\u2019s tourism sector and drive significant economic growth in the region.<\/p>\n

A Major Step Toward Luxury and Entertainment<\/strong><\/h2>\n

The first phase of the project showcases the luxury hotel Cinnamon Life, but there\u2019s much more on the horizon. Phase 2, expected to be completed by mid-2025, will introduce a Melco casino, a shopping district, and the ultra-luxury Nuwa hotel. The entire property is anticipated to generate annual gross gaming revenue (GGR) between $200 million and $250 million.<\/p>\n

Melco Resorts, having secured a 20-year gaming license from the Sri Lankan government, has committed $125 million to develop the gaming area. Lawrence Ho, Chairman and CEO of Melco, described this investment as \u201ca small wager with the promise of strong returns.\u201d<\/em> He emphasized the untapped potential of Sri Lanka\u2019s tourism market, explaining that the City of Dreams aligns with Melco\u2019s broader portfolio and could expand further based on demand.<\/p>\n

JKH Chairman and CEO Krishan Balendra highlighted the significant role the project could play in boosting tourism. He drew parallels to Singapore\u2019s integrated resorts, which spurred a surge in tourism after opening. Balendra noted, \u201cThe opening of those IRs in 2010 resulted in an immediate surge in tourist arrivals to Singapore,\u201d<\/em> expressing optimism that Sri Lanka could experience a similar impact.<\/p>\n

In addition to boosting tourism, the City of Dreams project is expected to create over 20,000 direct and indirect jobs, offering substantial benefits to the local economy. As the first integrated resort in South Asia, this development sets a new benchmark for luxury, entertainment, and tourism in the region.<\/p>\n

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