UAE launches regulatory website and names lottery license

The United Arab Emirates has launched the website of the kingdom’s gambling regulator and has issued its first lottery sentiment. It’s all done to introduce commercial gaming into the kingdom, efforts that are well underway with the Ras Al Khaimah development, which will feature a casino as part of the Wynn Marjan resort.

UAE fleshes out the details of its casino licensing

Yet, the process has been rather more convoluted than the "build it and they will come" approach, as the UAE is still feeling its way on how to best introduce the venue. The kingdom has been actively looking to project an outward appearance of secularity, and a place where fun-loving rich Westerners can come to have a good time.

The launch of the General Commercial Gaming Regulatory Authority (GCGRA)’s website is a sign that the kingdom is still committed to this. Coinciding with this launch, the kingdom has just issued its first lottery license to The Game LLC, which is a subsidiary of Momentum, an Abu Dhabi firm.

These events clearly indicate that the UAE is moving towards the goal of introducing gambling locally, albeit the kingdom would focus exclusively on foreigners and use its geopolitical heft and location to attract visitors.

Two US bigwigs supervise the licensing process with years of experience in the sector, ex-Missouri regulator Kevin Mullally, who is the CEO of the new regulator, and former MGM Resorts exec Jim Murren, who is Chairman of the Board.

In the meantime, the GCGRA has already provided a detailed breakdown of what is being offered by the regulator. There are several types of entity licenses published on the website, including those available to gaming operators, key persons – corporates, and gaming-related vendors.

Individual licenses for key persons and gaming employees will also be issued, the GCGRA’s website informs. The website similarly has a section dedicated to responsible gambling. In an official press release, CBRE Institutional Research Analyst John DeCree said that the suggested licensing model in the UAE makes it more akin to Nevada than the concession models in Macau in Singapore.

Analysts are excited about what the future of the development holds

This could already be more attractive to Western companies, although how many casinos would be allowed in is still anyone’s guess. Wynn has called first dibs for the time being.

"The UAE is still the next gaming frontier. We continue to believe the UAE is one of the most attractive global gaming opportunities today. The GCGRA is staffed by well-known and experienced gaming veterans and has been working expeditiously to craft industry-leading regulations, which are now becoming visible," DeCree added, noting on some of the advantages that the new licensing regime is sporting.

The Wynn Marijan resort on Al Marijan Island should be arriving in time for its planned opening in 2027 based on current developments. The project is set to have more than 1,500 rooms and the gaming floor will sprawl on 93,000 square meters. The resort is said to cost $3.9bn at current estimates and prices.

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