DUBAI: The recent movements of prominent gaming companies like MGM Resorts and Wynn Resorts in Las Vegas into the United Arab Emirates mark a significant shift in the region’s hospitality and entertainment landscape.
Notably, MGM Resorts has taken a groundbreaking step by confirming its application for a casino license, positioning itself as the first operator to engage formally in this pursuit.
The UAE, particularly through its regulatory entity, the General Commercial Gaming Regulatory Authority (GCGRA), is opening doors to a burgeoning gaming industry that reflects a broader cultural transition.
MGM’s involvement in Dubai commenced with a grand unveiling by Sheikh Mohammed bin Rashid Al Maktoum in 2017, underscoring the local government’s support for such ventures.
With Wasl as its development partner, MGM is strategically placed to navigate the complexities of the UAE’s unique governance structure, where each emirate can delineate its own gaming laws.
Wynn in queue
CEO Bill Hornbuckle’s statement at the Skift Global Forum 2024 emphasised this nuance, as he expressed optimism about obtaining the license in Abu Dhabi, contingent upon federal approval, while acknowledging the autonomous decision-making of individual rulers.
In contrast, Wynn Resorts has made substantial progress with its forthcoming $3.9 billion resort in Ras Al Khaimah.
The company is poised to incorporate gaming elements, having recently appointed a Vice President of Casino Operations.
However, Wynn has yet to initiate the formal application process for a gaming license, choosing to assess the information available from the GCGRA before proceeding.
The cautious approach reflects the sensitivity surrounding gaming operations in a region traditionally characterised by conservative values.
MGM’s historical context in the UAE adds another layer of complexity. Although it previously announced plans for a non-gaming project in Abu Dhabi back in 2006, these plans never materialised.
The company’s current strategy pivots decisively towards securing a casino license, as Hornbuckle articulated the imperative of aligning MGM’s business model with the realities of the UAE’s evolving gaming regulations.
The competition between MGM and Wynn is indicative of a transformative phase for the UAE, where the establishment of legal gaming serves as both a catalyst for economic diversification and a barometer of cultural acceptance.
As gaming becomes integrated into the hospitality sector, both companies must navigate not only regulatory frameworks but also societal attitudes.
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