Wynn Resorts recently announced that it has received the first casino license in the United Arab Emirates (UAE) from the General Commercial Gaming Regulatory Authority (GCGRA). The license is for the development of Wynn Al Marjan Island, a project with a total cost of $3.9 billion. Set to open in the first quarter of 2027, Wynn Al Marjan Island will feature over 1,500 hotel rooms, 22 restaurants, and a sizable casino floor spanning 224,000 square feet. Wynn Resorts has invested $900 million for a 40% stake in the venture, with the project being developed by government-owned entities Marjan and RAK Hospitality Holding.
The GCGRA, which was established in September 2023, had previously only issued one gaming license to a national lottery company in Abu Dhabi. The announcement of Wynn Resorts receiving a casino license marks the second license issued by the authority. The board of directors of the GCGRA is chaired by Jim Murren, the former chairman and CEO of MGM Resorts. Interestingly, MGM Resorts CEO Bill Hornbuckle revealed at the Skift Global Forum 2024 that the company has also applied for a casino license in the UAE. According to Hornbuckle, the federal government in Abu Dhabi will ultimately approve the license, and MGM Resorts is hopeful that they will win the license.
The upcoming Wynn Al Marjan Island project has garnered significant attention, with plans for a large casino facility, multiple hotels, restaurants, and a mall. Wynn Resorts has outlined the project’s details in a recent announcement, highlighting the size and scale of the development. The casino floor at Wynn Al Marjan Island is projected to be slightly larger than Wynn Las Vegas, showcasing the company’s commitment to delivering a world-class gaming experience in the Middle East. As Wynn Resorts prepares to provide an update on the project on October 8 for analysts and investors, the focus remains on the potential impact of the development on the region’s tourism and entertainment landscape.
Wynn Resorts’ entrance into the UAE’s gaming market, with the issuance of the first casino license, signals a significant milestone for the company and the industry as a whole. With a substantial investment in the Wynn Al Marjan Island project, Wynn Resorts is poised to make a mark in the region’s burgeoning hospitality and gaming sector. The GCGRA’s decision to grant the casino license underscores the government’s efforts to attract high-profile investments and develop a robust gaming industry in the UAE. As the project progresses towards its opening in 2027, stakeholders eagerly anticipate the economic and social impact it will have on Ras Al Khaimah and the wider UAE.
The expansion of gaming in the UAE, particularly with the introduction of high-profile projects like Wynn Al Marjan Island, signifies a shift towards diversifying the country’s entertainment offerings and attracting a new wave of visitors. The UAE’s emergence as a key player in the global gaming industry is further solidified with the issuance of the casino license to Wynn Resorts, paving the way for future developments and investments in the sector. As other major players like MGM Resorts also express interest in securing licenses in the country, the gaming landscape in the UAE is poised for significant growth and transformation in the coming years. With significant investments and strategic partnerships in place, the UAE is set to become a major destination for gaming and entertainment enthusiasts from around the world.
