Wynn Al Marjan Island (Ras Al Khaimah)
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Originally Posted by Guest

Very interesting article.
So the Wynn in Ras Al Khaimah is under construction without a casino license in place just yet.

I would assume they have been very involved with the lobbying for casinos to be licensed asap and won't be building with any sort of risk - it just isn't a public, signed deal as yet.

Very interesting article.

So the Wynn in Ras Al Khaimah is under construction without a casino license in place just yet.

The CEO of MGM Resorts has shared his expectation that the UAE could greenlight up to four casinos, including one in his own development: The MGM in Dubai. Bill Hornbuckle said at the Global Gaming Conference in Las Vegas this week that MGM is building a “podium and pedestal” that “could house a casino,” on the island in Dubai.
Hornbuckle shared the news in response to a question about the upcoming Wynn Al Marjan Island – which has a confirmed casino but is yet to secure any kind of license. The $3.9 billion Wynn will be in Ras Al Khaimah, overseen by a new arm of the emirate’s tourism authority called the Department of Entertainment and Gaming Regulation.

“Yes. We were there early. We have a project, now underway,” Hornbuckle said at the conference. “This island has an MGM, a Bellagio, and an Aria on it. We’re now building a podium and pedestal that could house a casino. We think there will be three or four [casinos] in the Emirates. It’s up to each ruler to decide what they want to do and where they want to do it.”

“We have told them [Dubai] that we’ll put equity in, or we’ll lease the casino in its totality to give us the casino business,” Hornbuckle said. “I don’t know that they [Dubai] are going to want to be in the casino business… I think at the end of the day we’ll end up leasing the casino.”

“Reportedly there’s a gaming decree that has been signed, but not released.”

Source: https://skift.com/2023/10/12/mgm-ceo-expects-4-uae-casinos-will-be-allowed-begins-building-in-dubai/

https://maps.app.goo.gl/MnnfZZ9syFy46J519

The UAE has established a federal body to regulate the country’s lottery and “commercial gaming” industry, state news agency WAM reported, laying the foundation to potentially become the first Gulf country to legalize casinos. The regulator’s board will be chaired by Jim Murren, former CEO of MGM Resorts International, it said, adding Kevin Mullally – who has had nearly 30 years experience in the gaming industry – will serve as the chief executive of the new body.

Source:
https://www.linkedin.com/news/story/uae-sets-up-gaming-regulator-6423026/

Craig Billings, CEO of Wynn Resorts, has suggested that the issuance of the first casino license in the UAE may be imminent, with the company's planned casino resort in the Northern Emirate of Ras Al Khaimah set to become the only establishment of its kind in the country.


“We have everything we need to operate gaming in Al Marjan. So while there may be conversation in other Emirates about legalization or legalization at the federal level, thereby covering all Emirates, I expect that we will have our license for Ras Al Khaimah actually imminently,” Billings said during Wynn's second-quarter earnings call.

Billings further told investors that the company has a very substantial growth opportunity in the UAE and called it “the most exciting gaming market in decades.” The planned $3.9 billion casino resort, described by analysts as “one of the most exciting growth prospects in the gaming industry globally,” will be called Wynn Al Marjan Island and is expected to open in early 2027.

Source: https://www.yogonet.com/international/noticias/2023/08/11/68283-wynn-expects-first-uae-casino-license-for-upcoming-al-marjan-project-may-be-issued-soon