The United Arab Emirates (UAE) not too long ago accredited a lottery license for an organization primarily based within the capital of Abu Dhabi and that and a few within the trade have speculated that the transfer might convey on line casino gaming to the nation as properly.
The license was granted by the General Commercial Gaming Regulatory Authority (GCGRA), the nation’s first gaming regulatory physique, and is chaired by former MGM Resorts International CEO Jim Murren. With Murren concerned and Wynn already constructing a $4 billion resort close to Dubai, some analysts consider that venture will embrace playing and that extra could also be within the works.
“I think it is reasonable to expect the UAE will be the Las Vegas of the Middle East,” CBRE Institutional Research analyst John DeCree famous in a latest analysis report in regards to the trade’s prospects within the nation. He added: “We believe the UAE represents one of the most compelling opportunities in global gaming.”
Adding Regulated Gaming
DeCree believes the creation of the regulatory physique and including a lottery strikes the nation nearer to full-scale gaming and that undoubtedly contains permitting playing on the new Wynn resort.
The Wynn venture is at the moment below building and shall be constructed on one among 4 small man-made islands, referred to as the Marjan Islands, that sat largely unused for the final yr. Plans name for a 1,500-room beachside lodge and on line casino, which shall be one of many firm’s largest properties. The resort will even embrace a purchasing venue, a spa, and conferences and occasion area.
The resort is predicted to open in 2027 and has additionally spurred further building initiatives on the islands, together with properties, resorts, retailers, and a brand new airport. Dubai and the UAE have lengthy attracted higher-end tourism clientele and the nation’s leaders apparently see on line casino gaming as a technique to improve that.
However, the nation nonetheless has but to formally approve including casinos. But trade observers consider that may change quickly.
“The UAE is still the next gaming frontier,” DeCree famous in his report. “We continue to believe the UAE is one of the most attractive global gaming opportunities today. The GCGRA is staffed by well-known and experienced gaming veterans and has been working expeditiously to craft industry-leading regulations, which are now becoming visible.”
