MGM Resorts International’s aspirations for growth in the United Arab Emirates (UAE) somewhat hiccupped when Dubai unexpectedly postponed the approval of casino resorts. In 2021, MGM magnified its presence in the Middle East by unveiling a chic hotel in collaboration with Wasl Hospitality and Leisure. This striking property, comprising the MGM Hotel, MGM Residences, and Bellagio Hotel, basked in the heart of Dubai.
Building anticipation of a potential shift in the UAE’s gaming regulatory framework earlier this year prompted MGM Chief Executive Officer, Bill Hornbuckle, to communicate the company’s keen interest in following developments closely. A generous 150,000 square-feet of space reserved at their Dubai asset was a strong indication of their readiness to embrace potential green-lighting of casinos in the future.
According to insiders, Dubai’s decision to delay the approval of casino gaming wasn’t definitive, with considerations for a poker series surfacing. With this unexpected change, the spotlight swung toward Abu Dhabi and Ras Al Khaimah, both now seen as likely candidates to host the initial casino resorts among the seven emirates.
Addressing an audience at the Global Gaming Expo (G2E) in Las Vegas recently, Hornbuckle optimistically envisioned up to four integrated resorts gracing the UAE landscape. In the meantime, the delay in Dubai hits hard for operators who set their sights on the most visited and much-acclaimed emirate.
In the wake of Dubai’s setback, Abu Dhabi and Ras Al Khaimah have emerged as strong contenders with promising futures in the casino resort arena. Abu Dhabi is earnestly planning the possibility of inviting a casino resort on its soil, while Ras Al Khaimah is leveraging its status as a sixth-largest city replete with tourist attractions as potential venues for these ambitious projects.
Despite the regional shakeup, Wynn Resorts, meanwhile, isn’t negatively impacted. They’ve kicked off their construction plan on the Wynn Al Marjan Island, a property located within the emirate of Ras Al Khaimah with $3.9 billion in investment. Slated for completion in 2027, it’s anticipated to be the first to introduce casino gaming to the UAE.
Despite the delay in Dubai, experts retain a positive standpoint for the long-term prospects of casino gaming within the region, with forecasts hinting that the UAE might even surpass Singapore in casino-related revenue generation.
As we dissect the intriguing developments in the physical casino sector, it’s prudent to remember the parallel growth in the online counterparts. Canadian citizens, for instance, are fortunate to experiment with a diverse array of trustworthy virtual casinos at their convenience.
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