Wynn Al Marjan Island
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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

https://issuu.com/susanduran92/docs/cv-portfolio_susanduran

A recent report by Knight Frank reveals a fascinating trend among wealthy investors from East Asia, who express a keen interest in UAE property investments contingent upon the opening of casinos in the country. The report, based on a survey of 183 ultra-high-net-worth individuals worldwide, sheds light on the potential impact of upcoming gaming developments, particularly the highly anticipated Wynn Resort on Ras Al Khaimah's Al Marjan Island.

The forthcoming Wynn Al Marjan Island, slated to open in 2027, currently stands as the UAE's sole confirmed casino project, despite the country's existing gambling prohibition. However, Knight Frank's analysis indicates a surge in investment activities and market sentiment within the gaming industry, with esteemed developers now venturing into Ras Al Khaimah. This transformative shift in the real estate landscape is attracting significant attention, particularly from wealthy East Asian investors seeking to purchase property in the emirate.

As per Knight Frank's survey,
48% of respondents express a heightened inclination to invest in Dubai if a casino opens there,
while 45% anticipate the emergence of casinos in other parts of the UAE as early as 2024.




Source: https://pbs.twimg.com/media/Fxdn3MkXoAU6VEN?format=jpg&name=large