Wynn Resorts Breaks New Ground in UAE with First-Ever Gambling License

The United Arab Emirates (UAE) has officially taken its first major step into the world of legalized gambling, awarding Wynn Resorts the country’s first-ever commercial gaming operator’s license.

This groundbreaking move, long anticipated by industry insiders, will allow the Las Vegas-based gaming giant to bring its signature brand of luxury casino resorts to Ras Al Khaimah, where the $3.9-billion Wynn Al Marjan Island resort is currently under construction.

A New Era for Gambling in the UAE

Historically, gambling has been strictly prohibited throughout the Gulf region, but the UAE’s decision to issue a gaming license marks a watershed moment, ending years of speculation.

The move was greenlit by the country’s newly formed General Commercial Regulatory Authority, which was established just last month. Interestingly, the regulatory body is staffed by veterans of the U.S. gaming industry, underscoring the UAE’s commitment to integrating international standards into its fledgling gaming sector.

For Wynn, this decision presents a golden opportunity to establish a foothold in the Middle East’s untapped gaming market, especially with the region’s increasing economic competition, particularly from Saudi Arabia. According to Bloomberg Intelligence, if the UAE’s gaming sector grows to the same level as Singapore’s, contributing about 1.6% of the national GDP, it could generate over $6.6 billion annually.

This step into legalized gambling not only positions Wynn as a pioneer in the region but also signals a significant shift in the UAE’s economic strategy. With tourism and entertainment becoming vital components of the UAE’s future economic growth, Wynn’s development is a clear indicator of the emirate’s ambitions to become a world-class gaming destination.

The Wynn Al Marjan Island Project

The Wynn Al Marjan Island resort, where the gaming license will be implemented, is nothing short of extraordinary. The $3.9-billion resort, a joint venture between Wynn Resorts, Marjan, and Ras Al Khaimah-based RAK Hospitality Holding, is slated to open in 2027. Set on 2.7 million square meters of reclaimed land, the resort will extend into the Arabian Gulf, creating a luxurious oasis of entertainment, hospitality, and gaming.

With a staggering 1,542 hotel rooms and 22 exclusive private villas, the resort promises to be one of the largest and most luxurious in the world. Visitors will also have access to 22 restaurants, lounges, and bars, offering world-class dining and nightlife. Additionally, the resort will feature extensive shopping areas, a meeting and event center, and, of course, the UAE’s first casino.

The Wynn Al Marjan Island resort is designed to cater to both international tourists and the region’s affluent residents. With the development of the resort, Emirates poker will likely take center stage, offering a new entertainment option that blends the thrill of high-stakes games with the unparalleled luxury Wynn is known for.

What This Means for the UAE’s Economy

The decision to award Wynn a gaming license is a strategic move that reflects the UAE’s broader efforts to diversify its economy away from oil dependency. By embracing gambling, the UAE has the potential to attract millions of visitors annually, positioning itself as a global tourism hub akin to Las Vegas and Singapore. Furthermore, it enhances the UAE’s competitiveness in the region, particularly in light of Saudi Arabia’s recent push to expand its entertainment and tourism sectors.

Legalized gambling could also have a significant trickle-down effect on other industries in the UAE. For example, tourism, hospitality, and real estate are all expected to benefit from the influx of visitors. Additionally, the ripple effects could reach sectors such as technology, media, and finance, as gaming corporations and their associated businesses establish a presence in the region.

With poker already a popular game worldwide, the introduction of regulated and high-end poker venues in the UAE could lead to a boom in poker tourism, creating opportunities for major tournaments and events in the Emirates.

The Competitive Landscape: More Casinos to Come?

While Wynn Resorts has secured the first gaming license in the UAE, it is unlikely to remain the only player for long. Las Vegas-based MGM Resorts and Malaysia’s Genting Group are reportedly exploring opportunities to develop similar projects in the UAE. MGM has already expressed interest in applying for a license in Dubai, while Genting has hinted at its openness to developing a casino resort in the Emirates.