Wynn Resorts has said it has landed the first commercial gaming operator’s license in the United Arab Emirates.
The hotel and casino operator is developing a luxury resort at Wynn Al Marjan Island in Ras Al Khaimah, in collaboration with Marjan and RAK Hospitality Holding.
Currently under construction, the landmark development will deliver a 1,542-room facility, with 22 bars and restaurants, as well as a theatre venue for live shows.
Wynn Resorts will showcase the vision in a presentation to investors on Tuesday (Oct. 8), with the company already committing $514 million to the project.
The resort is expected to open in 2027, in what is a positive story for Wynn after one of its subsidiaries agreed to forfeit more than $130 million.
In September, Wynn Las Vegas (WLV) admitted criminal wrongdoing related to unlicensed money transfers. A ruling from a U.S. Attorney’s Office declared that WLV had used unregistered money transmitters to work around the regular financial system, particularly to assist foreign gamblers in moving funds into the casino.
Sensitivity and reforms in the UAE
In 2023, the General Commercial Gaming Regulatory Authority (GCGRA) was established to regulate the fledgling gaming operation in the Middle East state, ending years of deliberation on the introduction of legal gambling.
Gambling is still a sensitive issue and mostly illegal across the conservative Muslim Gulf region, but ongoing economic competition is influencing change.
With Saudi Arabia dedicating vast resources to develop its relationship with the West, it presents a particular challenge to the UAE. The establishment of a gaming regulator was among a range of liberal legal reforms as the Emirates seeks to remain at the forefront of tourism and trade in the region.
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The post Wynn Resorts secures first gambling license in the UAE appeared first on ReadWrite.
This articles is written by : Fady Askharoun Samy Askharoun
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