Wynn Resorts announced on Friday that it has been awarded the first-ever commercial gaming operator’s license in the United Arab Emirates (UAE) by the General Commercial Gaming Regulatory Authority. The Las Vegas-based company is developing a luxury resort, Wynn Al Marjan Island, in Ras Al Khaimah, marking a significant milestone for the UAE, where gambling had previously been prohibited.
The resort project, currently under construction, is a joint venture between affiliates of Wynn Resorts, Marjan, and RAK Hospitality Holding. However, Ras Al Khaimah’s government communications office, the Ras Al Khaimah Tourism Development Authority (RAKTDA), and RAK Hospitality Holding did not immediately respond to Reuters’ requests for comment.
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The UAE recently established a federal entity to regulate gambling, signaling a shift in its stance and hiring experienced US industry veterans to lead the regulatory body. This development ends years of speculation about whether the UAE would allow gambling, which is still banned across much of the conservative Gulf region.
The introduction of gambling in the UAE comes amid intensifying economic competition with Saudi Arabia. Last month, the UAE introduced a series of liberal legal reforms as part of its effort to retain its position as the Gulf’s trade, tourism, and financial hub.
