UAE awards first casino licence

US-based Wynn Resorts says it has been awarded the first commercial gaming operator’s licence in the United Arab Emirates.
The Las Vegas-based casino firm is developing a luxury resort at Wynn Al Marjan Island in Ras Al Khaimah, the company said in a statement on Friday. The project, which is currently under construction, is a joint venture between Wynn, Marjan and RAK Hospitality Holding.
The project is billed as a major milestone for tourism in the region. The 1,542-room resort overlooks a white sandy beach and features 22 bars and restaurants, as well as a theatre for shows. 
Casino operators have long sought to built a resort in the Gulf region that would attract visitors from Europe, Asia and other markets.
The UAE began paving the way for legalised gambling last year when it set up a new regulator, the General Commercial Gaming Regulatory Authority, and hired veterans of the US industry to lead it.
The move came against a backdrop of intensifying economic competition in the Gulf, especially with Saudi Arabia. The UAE last month introduced a raft of other liberal legal reforms as it tries to maintain its edge as the region’s trade, tourism and financial hub.
MGM Resorts International said last month that it had also applied for a gambling licence for a property it is building in Abu Dhabi.
Wynn is scheduled to give a presentation focused on its Al Marjan resort to investors on Oct 8. The company said in August that it had invested $514 million so far in the project. It is expected to open in 2027.