Wynn Resorts, a leading hotel and casino operator, made a groundbreaking announcement on Friday as they were granted the first commercial gaming operator’s license in the United Arab Emirates by the General Commercial Gaming Regulatory Authority. This marks a significant milestone for the Las Vegas-based firm, as they are set to develop a luxury resort at Wynn Al Marjan Island in Ras Al Khaimah.
In a joint venture with affiliates of Wynn Resorts, Marjan, and RAK Hospitality Holding, the project is already under construction. This move comes in the wake of the UAE establishing a federal entity to regulate gambling, signaling a shift in the country’s stance on the industry.
With the UAE looking to strengthen its position as a key player in the region amidst growing economic competition, the decision to allow gambling reflects a broader strategy to attract tourism and investment. These developments are part of a series of liberal legal reforms introduced by the UAE to maintain its status as the Gulf’s trade, tourism, and financial hub.
(Source: Reuters)