MGM pushes for UAE casino breakthrough

Lea Hogg September 22, 2024

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MGM pushes for UAE casino breakthrough

MGM Resorts International has taken a significant step forward in its expansion by formally applying for a casino licence in Abu Dhabi. This move comes as the UAE begins loosening its stance on gambling, with the General Commercial Gaming Regulatory Authority (GCGRA) overseeing the process. MGM’s CEO Bill Hornbuckle confirmed the submission of the application during the 2024 Skift Global Forum, expressing optimism about MGM’s chances in the region, given its prior experience with similar markets and relationships in the UAE.

The company is well-positioned to compete in the region, having already partnered with Dubai World on a variety of projects, including the CityCenter development in Las Vegas. Additionally, MGM is involved in a luxury resort development in Dubai, featuring its renowned Bellagio and Aria brands. This experience has given the company valuable insight into the UAE market, making it confident about the opportunities presented by the new regulatory framework?

Hornbuckle has acknowledged the “cultural barrier” that casinos face in the predominantly Islamic nation, where gambling is generally forbidden. However, with 80 percent to 90 percent of the UAE’s population consisting of expatriates, the tourism potential is immense. MGM is banking on attracting visitors from nearby countries such as India and China, as well as tourists from other parts of the Middle East?.

UAE set to become next casino destination

MGM is not alone in its ambitions for the UAE. Wynn Resorts, another major player, is already constructing a $3.9 billion resort in Ras Al Khaimah with provisions for a gaming floor, should it receive the appropriate licenses. Wynn’s project is slated for completion in 2027, and both companies hope to capitalise on the growing trend of gaming-related tourism in the region?.

This potential entry into the Abu Dhabi market could mark a transformative period for MGM, which is already experienced in navigating complex regulatory environments, as demonstrated by its projects in Japan and Las Vegas. Hornbuckle remains hopeful that the federal government will provide clarity on the licensing process later this year, paving the way for a new era in UAE’s hospitality and gaming sectors?.

With both MGM and Wynn vying for a stake in the UAE’s emerging casino market, the country is expected to become a new hotspot for luxury gaming resorts, driven by its strategic location and global tourist appeal.