In September 2023, the UAE presented a federal regulatory body for gambling — the GCGRA. This is a fantastic step forward for the local entertainment sector. The new authority must create rules for running national lotteries and RMG activities in the country.
UAE Gaming Legalisation: Prerequisites and Features
For now, there are almost no specific details or accurate information on the final regulations, so many things still need to be clarified. However, a lot of operators started to consider the ways of entering the market and prepared to dive into action once the opportunity arose. Among these brands, Wynn Resorts stands out. The company’s CEO Craig Billings called the UAE the most fascinating segment to be opened in recent decades.
The new regulation is a solid transformation. Before its approval, any person found gambling in the country could have been subject to 2 years of imprisonment and about $ 13,615 in fines. That is why the appearance of the GCGRA was a highly anticipated decision.
There are some details on the authority’s management:
- Kevin Mullally. The former ED of Missouri’s Gaming Commission is set to take the position of CEO. The expert also worked on GLI from 2006 to 2023.
- Jim Murren. The specialist was MGM Resorts' Chairman and CE for 12 years (2008−2020). He is going to become the head of the GCGRA’s Board of Directors.
As the accurate rules still need to be revealed, there is a question of whether the iGaming sector will be permitted. Another concern addresses the regulation of 2 established UAE lotto brands — Mahzooz and Emirates Draw. It is unknown which body will monitor the activities of these giants.
GLI and Eilers & Krejcik Gaming will help the new authority. The first organisation leads consultations on creating the managing rules. The second one assists the partners and delivers market research. This corporation is majorly involved in online offerings, thus, rumours about opening the web niche appeared in the country. All the companies pushed for implementing federal regulation instead of separate for each emirate.
Regarding taxes, the UAE plans to establish a 25% revenue fee on mass-market gaming and an 8% charge on premium activities.
Wynn Resorts' Leadership Aspiration
The operator already made solid steps in the area to take advantage of recent legalisation. The corporation is preparing for the launch of an integrated entertainment complex, the 1st in the MENA region. The venue is located about 100 kilometres from Dubai.
The brand’s Al-Marjan casino is in the middle of the construction process. The opening is scheduled for the beginning of 2027. The establishment’s cost promises to reach $ 3.9 billion. Wynn has a minority share in the project, while around 60% of the stakes belong to its regional partners.
The resort will include various exciting facilities:
- a theatre;
- a spa centre;
- a gaming floor;
- a hall for events;
- 1,500 hotel rooms;
- dining and lounge zones;
- premium shopping offerings, etc.
The operator still needs to obtain a licence and discover the essential rules of the local regulation. However, Craig Billings does not express even the slightest concern. The CE is confident his corporation will get the permit. The brand has always demonstrated its faith and support in launching a legal UAE gambling segment.
Mr Billings doubts that every emirate will take the opportunity and quickly present an integrated resort on the premises. The executive also assumed their competitors would roll out new projects much later, considering Wynn already initiated construction. The expert also underlined the importance and benefits of being a pioneer in any sphere.
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