Wynn Resorts, a Nevada-based hotel and casino operator, has received the first commercial gambling license granted by the gaming authority in the United Arab Emirates (UAE).
The United Arab Emirates, along with various nations in the Gulf region, has historically maintained a comprehensive prohibition on both online and land-based casinos, as gambling is forbidden in Islam. Nevertheless, casino operators have been exploring the possibility of creating a resort designed to draw visitors from Europe, Asia, and other areas.
In 2022, UAE officials endorsed a national tourism strategy intended to attract approximately $27.2 billion in investments within the tourism sector, enhance the sector’s contribution to the GDP to $122.5 billion, and accommodate around 40 million hotel guests by the year 2031.
In 2023, the UAE took a significant step forward by establishing a new regulatory authority aimed at creating a legal framework for a national lottery and commercial gaming.
It has been reported that Wynn Resorts is currently in the process of constructing a luxury resort at Wynn Al Marjan Island in Ras Al Khaimah. Two months ago, the US-based company announced an investment of $514 million in the 1,542-room property, which is anticipated to open its doors to guests in 2027. This endeavor is a collaborative project involving Wynn, Marjan, and RAK Hospitality Holding.
Last month, MGM Resorts International, another US-based hospitality and entertainment firm, also announced its application for a gambling license for a property currently under construction in Abu Dhabi.
Wynn Resorts, Limited is a publicly traded American corporation headquartered in Paradise, Nevada, specializing in the development and operation of luxury hotels and casinos. Established in 2002 by Steve Wynn, the former Chairman and CEO of Mirage Resorts, the company is currently led by CEO Craig Billings. As of 2020, Wynn Resorts has successfully developed six properties.
MGM Resorts International is a prominent American company specializing in hospitality and entertainment. The organization manages a variety of resorts located in Las Vegas, Massachusetts, Michigan, Mississippi, Maryland, Ohio, New Jersey, as well as international locations in Macau, Shanghai, Chengdu, Hangzhou, and Sanya. Notable properties under its management include the Bellagio, Mandalay Bay, MGM Grand, and Park MGM.