UAE casinos: Wynn Resorts granted first commercial gaming operator licence
The UAE’s General Commercial Gaming Regulatory Authority has granted Wynn a gaming licence for its Wynn Al Marjan Island project in Ras Al Khaimah.
United Arab Emirates.- The Las Vegas-based casino operator Wynn Resorts has become the first company to receive a commercial gaming licence to operate a casino in the United Arab Emirates. It has been granted a licence by the General Commercial Gaming Regulatory Authority (GCGRA) after confirming last month that it had made an application for its Wynn Al Marjan Island integrated resort in Ras Al Khaimah (RAK).
Wynn Resorts has already been working on construction of the resort in a joint venture with affiliates Marjan and RAK Hospitality Holding. Until now the GCGRA had only issued a licence for lottery operations to The Game LLC in July of this year. The regulator was established last year with Kevin Mullally, the former executive director of the Missouri Gaming Commission (MGC), at its helm.
Wynn said in a statement: “Wynn Resorts thanks the GCGRA for the confidence and trust the licence grant signifies and is proud to be the recipient of the first commercial gaming facility licence in the UAE. We are underway with the construction of our resort in Ras Al Khaimah and look forward to being a key partner in the development of its tourism economy.”
Wynn Las Vegas will host an invitation-only analyst and investor update meeting today to discuss the project. CEO Craig Billings and other company leaders will make presentations and are expected to provide forecasts on the estimated financials of the UAE resort.
The operator says Wynn Al Marjan Island will have 1,542 rooms and suites and an extensive poolscape adjacent to the beach with multiple swimming and wading pools, water features, private cabanas, and tropical landscaping covering 3.6 hectares.
Last month, the rival US casino giant MGM Resorts became the second operator to apply for a casino gaming licence in the UAE. In a keynote at the Skift Global Forum in New York, MGM chief executive Bill Hornbuckle confirmed that the operator had submitted its application for authorisation to operate a casino in Abu Dhabi and hoped to have a response by the end of the year. While the General Commercial Gaming Regulatory Authority (GCGRA) issues licences in the Emirates, approval of casinos essentially comes down to the opinion of the ruler of each individual emirate.
