UAE Announces Plans to Open a Gambling Casino in Each Emirate
The UAE authorities are planning to open a gambling casino in every emirate on its territory after a gambling casino was announced in the Emirate of Ras Al Khaimah in the “Wynn Al Marjan Island” area months ago.
Frederic Goschen, CEO of Spectrum Gaming, a company specializing in casino management, stated, “There is speculation that each Emirati emirate may be granted a license for up to one casino.”
Goschen added, “I anticipate a political agreement among all the emirates, enabling each to develop and leverage its unique benefits and scale.”
The UAE has made significant progress on casino legislation by creating the General Commercial Gaming Regulatory Authority (GCGRA), led by former MGM CEO Jim Morin.
Goshen acknowledges that Morin’s appointment is primarily symbolic, but emphasizes that the other individuals chosen by the UAE are indeed experienced organizers.
He explained that the Ajman Casino is likely to be “more like what it is in Las Vegas than in Macau.” This means more focus on non-gaming – including food, drinks, nightclubs, etc.
Last October, the famous travel website Skift revealed that the UAE authorities were preparing to license up to four new casinos for gambling.
The website cited Bill Hornbuckle, CEO of MGM Resorts International, a company specializing in casino management, who stated that there is a significant surge in gambling casinos in the Emirates following the announcement of a casino in the Emirate of Ras Al Khaimah in the ” Wynn Al Marjan Island” area.
On September 3, 2023, the UAE announced the creation of the “General Authority for Regulating Commercial Gaming,” marking a significant move towards legalizing gambling for the first time in a Gulf country.
The mentioned organization will function as a federal authority to establish a regulatory framework for overseeing gambling and lottery activities.
Hornbuckle said MGM is building a “platform and base” that could “house a casino” on the island in Dubai.
He explained that MGM is present on “Wynn Marjan Island,” and that there are projects under implementation on the island located in Ras Al Khaimah.He clarified that MGM is active on “Wynn Marjan Island,” with ongoing projects on the island in Ras Al Khaimah.
“We are now building a platform and a base that can include a casino, and we believe there will be three or four casinos in the Emirates,” he said. “It is up to each governor to decide what he wants to do and where he wants to do it.”
The report pointed out that the UAE authorities appointed Jim Morin as Chairman of the Board of Directors of the General Authority for Commercial Gaming Regulatory, and he was the former president of MGM.
Morin collaborated extensively with Emirati officials to develop CityCenter, Las Vegas’ largest project, valued at $9.2 billion. This development was a joint effort between MGM Resorts International, under Morin’s leadership, and Dubai World, and it opened in 2009.
Hornbuckle expressed his confidence that the Dubai authorities would approve the opening of a new casino affiliated with his company, MGM.
Earlier this year, the real estate and consulting firm Knight Frank surveyed potential high-net-worth buyers to gauge their opinions and expectations regarding the casino market in the UAE.
It found that 59% believe a casino will be opened in Abu Dhabi, 58% said in Dubai, and 48% said in the other emirates, which will include Ras Al Khaimah.
45% said they expect a licensed casino to open in the UAE within a year or two from now.
Hornbuckle confirmed that he expects gambling to be legalized in the UAE during the current year.
Gambling industry leaders are continuing to flock to the UAE, which is close to officially allowing the practice of gambling on its territory, a first in the Gulf countries.
In 2022, the global news agency Reuters disclosed that the UAE would permit certain forms of gambling for the first time, stipulating that each emirate would autonomously decide on its approach to regulation. This approach mirrors Sharjah’s prohibition of alcohol sales, a policy distinct from that of other emirates.
An array of global resorts and gambling establishments are exploring the potential of establishing branches in the nation, particularly considering its significance as a tourist destination. Consequently, numerous international gambling club operators are now eyeing a profit opportunity that was previously unavailable: gambling within the country.
