City of Dreams Sri Lanka generated a total of LKR388.72 million (US$1.16 million) in EBITDA for real estate developer and partner John Keells Holdings during the quarter ended 30 June.
According to the company’s most recent results, released Friday, the June quarter provided notable improvement from an LKR999.73 million (US$3 million) loss in the same quarter of last year – understandable given that the property only officially opened in August 2025.
The property’s casino and Nuwa hotel are operated by Melco Resorts & Entertainment, representing Melco’s first South Asian integrated result venture and first project in Sri Lanka. The gaming operator runs the casino under a 20-year casino license issued by Sri Lanka’s government.
The US$1.2 billion IR is envisioned to be “India’s Macau,” also aiming to attract visitors from Russia, China and the Middle East.
In the results announcement, John Keells indicated that “City of Dreams Sri Lanka continued its positive momentum during the quarter. Growth in hotel EBITDA was driven by an increase in occupancy and ARRs. The casino continues to record a steadily improving performance, where the Group recognizes rental income.”
However, the group did note that “profitability of the leisure industry group was impacted by the challenging operating environment as the conflict in the Middle East disrupted travel and weakened travel sentiment across several key source markets.”
The 687-room Cinnamon Life hotel, part of the City of Dreams Sri Lanka complex, is operated by John Keells.
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