Wynn Resorts has been granted the first casino licence in the United Arab Emirates (UAE).
Wynn Resorts has been granted the first casino licence in the United Arab Emirates (UAE) by the General Commercial Gaming Regulatory Authority (GCGRA). This licence permits the development of the US$3.9 billion Wynn Al Marjan Island project, which is expected to open in 2027. The resort will feature over 1,500 hotel rooms, 22 restaurants, and a spacious casino.
This move marks a significant step in the development of the UAE's gaming industry, which has so far had strict laws against gambling. The establishment of the GCGRA and the issuance of the first licence suggest a shift in approach, aiming to attract international investment and diversify the economy.
Besides Wynn Resorts, MGM Resorts has also applied for a licence, indicating the growing interest of global players in this new market. Analysts predict that the UAE's gambling market could generate between $3 and $5 billion, with potential for further growth as the industry develops.
Wynn Al Marjan Island is expected to become a significant destination for tourists and gambling enthusiasts, contributing to the UAE's economic growth and diversification. This development may also encourage other countries in the region to reconsider their policies towards gambling, opening doors to new investment and tourism opportunities.
Source: Skift
