UAE Archives - Keno Wizard https://kenowizard.com/tag/uae/ The Ultimate Keno Destination for Odds, Tips & Tricks Tue, 30 Jul 2024 14:55:02 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 UAE Archives - Keno Wizard https://kenowizard.com/tag/uae/ 32 32 230792155 UAE Awards First Lottery License https://kenowizard.com/2024/07/30/uae-awards-first-lottery-license/ https://kenowizard.com/2024/07/30/uae-awards-first-lottery-license/#respond Tue, 30 Jul 2024 14:55:02 +0000 https://kenowizard.com/2024/07/30/uae-awards-first-lottery-license/ The General Commercial Gaming Regulatory Authority (GCGRA), the federal body overseeing commercial gaming activities in the United Arab Emirates, announced today the award of the first authorized lottery license to The Game LLC. This milestone marks a significant step in establishing a well-regulated commercial gaming sector in the UAE, built on principles of transparency, accountability, [...]

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GCGRA-licenses-The-Game-LLC-to-operate-UAE-LotteryThe General Commercial Gaming Regulatory Authority (GCGRA), the federal body overseeing commercial gaming activities in the United Arab Emirates, announced today the award of the first authorized lottery license to The Game LLC. This milestone marks a significant step in establishing a well-regulated commercial gaming sector in the UAE, built on principles of transparency, accountability, consumer protection, and responsible gaming practices.

A New Era for UAE Gaming

The license, awarded to The Game LLC, a commercial gaming operator specializing in game development, lottery operations, and gaming-related content, signifies the launch of the ‘UAE Lottery’. Under this banner, The Game LLC will offer a diverse range of lottery games tailored to players’ varied interests and financial preferences. The selection of The Game LLC coincides with the GCGRA launching its official website, providing insights into its board and executive team.

Jim Murren, the Chairman of the GCGRA, heralded the event as pivotal: “The launch of the UAE Lottery is a pivotal event that not only marks the establishment of a disciplined world-class regulatory framework for lottery activities but also underscores our commitment to nurturing a secure and enriched commercial gaming environment in the UAE.”

Regulatory Framework and Consumer Protection

Kevin Mullally, CEO of the GCGRA, emphasized the authority’s commitment to global best practices in consumer protection and regulatory oversight: “The GCGRA is steadfast in its commitment to global best practices in consumer protection and regulatory oversight. Our regulatory framework is designed to ensure the integrity, fairness, and transparency of commercial gaming activities in the UAE, which include lottery games. It also provides consumers with a comprehensive set of tools to monitor and manage their gaming activity. Additionally, we are leveraging new technologies to foster the creation of safe, entertaining games and drive consumer-focused innovation.”

The GCGRA has developed a comprehensive regulatory framework aimed at protecting consumers and the legitimate interests of all stakeholders. Engaging in, conducting, or facilitating commercial gaming activities within the UAE without approval from the GCGRA is illegal and exposes offenders to severe penalties. Playing as a consumer via unlicensed operators is also illegal under the GCGRA framework.

The GCGRA’s website details comprehensive licensing procedures, including land-based gaming facilities, indicating potential plans for integrated resorts (IRs) in the UAE. The regulatory framework defines commercial gaming broadly, encompassing slots, table games, lottery, internet gaming, and sports wagering. This development is expected to alleviate skepticism within the investment community regarding the legalization of commercial gaming in the UAE.

Market Response and Future Prospects

The announcement of The Game LLC as the UAE Lottery operator coincides with the launch of the GCGRA’s official website, which provides a clear view of the board and executive team tasked with bringing lottery, land-based, and online gaming to the United Arab Emirates. The GCGRA, established in September 2023, now confirms its full board of directors and C-level executives across all key functions.

CBRE analysts have noted that the regulation of lotteries was anticipated, given the UAE’s history of grey market operations and existing customer acceptance. They suggest that opportunities for larger international lottery operators to establish partnerships in the UAE remain viable, consistent with practices in other global lottery jurisdictions. The GCGRA’s detailed and thorough licensing process is expected to be well-received by investors seeking transparency in this expanding market.

The GCGRA’s recent progress, including the awarding of the first lottery license, the establishment of a comprehensive regulatory framework, and the launch of its official website, marks a significant milestone in legitimizing and adding transparency to the UAE’s commercial gaming industry. With a focus on protecting consumers and ensuring the integrity of gaming activities, the UAE is positioned to become a highly attractive global gaming market.

Source:

Press Release – The GCGRA awards License for UAE Lottery, gcgra.gov.ae, July 28, 2024.

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UAE Releases Gambling Regulations, Grants First Lottery License https://kenowizard.com/2024/07/30/uae-releases-gambling-regulations-grants-first-lottery-license/ https://kenowizard.com/2024/07/30/uae-releases-gambling-regulations-grants-first-lottery-license/#respond Tue, 30 Jul 2024 04:12:02 +0000 https://kenowizard.com/2024/07/30/uae-releases-gambling-regulations-grants-first-lottery-license/ The UAE has published comprehensive regulations for licensed gambling, paving the way for casinos to begin operations in the Gulf state. The United Arab Emirates (UAE) has officially approved its first gaming license and unveiled comprehensive new regulations governing the casino and gambling industries. This landmark decision positions the UAE as the pioneer in legalising [...]

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Dubai, UAE
The UAE has published comprehensive regulations for licensed gambling, paving the way for casinos to begin operations in the Gulf state.

The United Arab Emirates (UAE) has officially approved its first gaming license and unveiled comprehensive new regulations governing the casino and gambling industries.

This landmark decision positions the UAE as the pioneer in legalising gaming within the Gulf region.

On Sunday, the General Commercial Gaming Regulatory Authority (GCGRA) revealed its detailed regulatory framework, which had been under wraps until now.

The new guidelines establish a structured approach to managing various gaming activities, including the issuance of casino licenses, oversight of slot machines, and regulation of poker tables.

Jim Murren, Chairman of the GCGRA, underscored the significance of this development.

“The launch of the UAE Lottery is a pivotal event that not only establishes a disciplined regulatory framework for lottery activities but also demonstrates our commitment to fostering a secure and sophisticated commercial gaming environment in the UAE,” Murren stated.

The regulations encompass a broad spectrum of gaming activities, from lotteries and internet gaming to sports betting and land-based casinos. The GCGRA’s website now lists the types of games to be regulated, such as slots, roulette, blackjack, baccarat and craps.

As of now, only one license has been granted: The Game LLC has been approved to operate the UAE Lottery.

This company, specialising in lottery operations and game development, is the sole entity authorised to offer gaming services under the new rules.

Consequently, established lottery operators like Mahzooz and Big Ticket will need to cease their activities until they meet the new licensing requirements.

While the regulatory framework for casinos is now established, no casino properties have yet been licensed.

However, excitement is growing around major projects such as Wynn Al Marjan Island, which is anticipated to be the first to secure a gaming license by its expected 2027 opening.

Other potential entrants include Atlantis Dubai and MGM Dubai, both of which are exploring opportunities in the UAE’s emerging gaming market.

Wynn Resorts, in partnership with RAK Hospitality, is poised to play a significant role in this new sector.

Wynn CEO Craig Billings has hinted at future developments, including additional hotels and a new “Marjan Strip” concept around Wynn Al Marjan Island.

According to analysts at CBRE, the UAE’s casino sector could eventually generate up to US$8.5 billion in revenue, driven by the country’s robust tourism infrastructure and luxury market.

CBRE’s John Decree said that “the UAE represents one of the most compelling opportunities in global gaming”.

To ensure responsible gaming, the GCGRA has implemented several regulations, including mandatory cooling-off periods for online gaming, deposit-limit tools, and self-exclusion programs.

The authority also stresses the importance of engaging only with licensed operators and staying informed about gaming risks.

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Wynn Resorts Reports Strong Q3 2023 Financials Amid UAE Expansion Plans https://kenowizard.com/2023/11/10/wynn-resorts-reports-strong-q3-2023-financials-amid-uae-expansion-plans/ https://kenowizard.com/2023/11/10/wynn-resorts-reports-strong-q3-2023-financials-amid-uae-expansion-plans/#respond Fri, 10 Nov 2023 18:32:12 +0000 https://kenowizard.com/2023/11/10/wynn-resorts-reports-strong-q3-2023-financials-amid-uae-expansion-plans/ Wynn Resorts, a leading global hospitality and entertainment company, announced stellar financial results for the third quarter ended September 30, 2023.  CEO Craig Billings Applauds Wynn Resorts’ Q3 Success and Diverse Portfolio Strength The company reported operating revenues of $1.67 billion, marking a significant increase of $782.2 million compared to the same period in 2022. [...]

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Wynn Resorts, a leading global hospitality and entertainment company, announced stellar financial results for the third quarter ended September 30, 2023

CEO Craig Billings Applauds Wynn Resorts’ Q3 Success and Diverse Portfolio Strength

The company reported operating revenues of $1.67 billion, marking a significant increase of $782.2 million compared to the same period in 2022. Net loss attributable to Wynn Resorts was $116.7 million for Q3 2023, an improvement from the net loss of $142.9 million in Q3 2022.

Wynn Resorts CEO, Craig Billings, expressed satisfaction with the results, emphasizing the ongoing strength across the company’s property portfolio. He attributed the success to outstanding performances at Wynn Las Vegas and Encore Boston Harbor, which achieved a new third-quarter record for Adjusted Property EBITDAR at their combined North American properties.

Billings also highlighted the positive developments in Macau, where the recovery showed progress in mass gaming, luxury retail, and hotel businesses.  The breakdown of operating revenues showed increases at Wynn Palace, Wynn Macau, Las Vegas Operations, and Wynn Interactive, while Encore Boston Harbor experienced a slight decrease compared to Q3 2022. 

Wynn Resorts Navigates UAE Regulations, Progressing Toward 2027 Opening

Looking at the company’s financial position, Wynn Resorts reported cash and cash equivalents of $2.79 billion as of September 30, 2023, and total current and long-term debt outstanding of $11.79 billion. Wynn Resorts also declared a cash dividend of $0.25 per share.

In addition to the financial results, Wynn Resorts discussed its ongoing projects, including the construction of Wynn Al Marjan Island in the UAE. CEO Craig Billings mentioned that regulatory developments in the UAE suggest that Wynn Resorts might face minimal competition in the initial years after the resort’s opening in 2027. He anticipated a possible duopoly or oligopoly with one or two competitors emerging in the market later.

The company is closely monitoring the regulatory environment in the UAE, where former MGM CEO Jim Murren has been named chairman of the gaming authority. The licensing process is progressing, providing clarity for financing sources and allowing Wynn Resorts to move forward with construction financing.

According to JPMorgan analysts, Dubai’s General Commercial Gaming Regulatory Authority (GCGRA) may expedite the introduction of gambling laws, anticipating swift progress for the Wynn Resorts project. While MGM Resorts International eyes a potential non-gaming property in Dubai initially, Wynn Resorts aims to secure a prominent position in the lucrative Middle East market by 2027.

Despite the positive financial results and promising future developments, Wynn Resorts’ stock experienced a 5% decline in after-hours trading. Investors are likely reacting to broader market dynamics and considerations beyond the Q3 performance.

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JPMorgan Suggests UAE May Approve Gambling Framework in 2023 https://kenowizard.com/2023/09/23/jpmorgan-suggests-uae-may-approve-gambling-framework-in-2023/ https://kenowizard.com/2023/09/23/jpmorgan-suggests-uae-may-approve-gambling-framework-in-2023/#respond Sat, 23 Sep 2023 16:33:58 +0000 https://kenowizard.com/2023/09/23/jpmorgan-suggests-uae-may-approve-gambling-framework-in-2023/ This is according to analysts from JPMorgan who seem to be inclined to believe that the newly-established regulatory body, the General Commercial Gaming Regulatory Authority or GCGRA is expected to move quicker than anticipated and possibly present the laws that would make it possible to introduce gambling. Already the Groundwork for Something Bigger The regulator [...]

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This is according to analysts from JPMorgan who seem to be inclined to believe that the newly-established regulatory body, the General Commercial Gaming Regulatory Authority or GCGRA is expected to move quicker than anticipated and possibly present the laws that would make it possible to introduce gambling.

Already the Groundwork for Something Bigger

The regulator earlier this year added a number of well-seasoned industry veterans whose expertise should in theory make it much simpler for the authority to set up everything it needs. Jim Murren was appointed chairman and Kevin Mullay stepped in as the CEO of the new watchdog.

So, why would the GCGRA move so quickly? JPMorgan seems inclined to believe that the regulator is keen to get all details hammered out and make sure that the upcoming $3.9-billion resort spearheaded by Wynn will be arriving in time for its scheduled date.

The upcoming project is expected to have a larger gaming area than Wynn Las Vegas, even, making it a formidable project that is doubly important because of its strategic geographical location. Analyst Joseph Greff said:

We think progress is being made with respect to gaming law enactment, a gaming license being issued, property level financing being secured, and partner equity contributions and construction accelerates. As such, we think investors will start to assess and ascribe the net equity value here.

JPMorgan analyst Joseph Greff

Of course, Wynn Resorts is not the only one hoping to secure a foothold in what would be one of the most lucrative opportunities in the gambling industry.

Las Vegas Giants Ogling the Middle East Opportunity of Their Lives

MGM Resorts International may be looking to establish a non-gaming property in Dubai at first, and hoping to further expand with a casino should local authorities agree to such a transition.

The truth is that Wynn Resorts will definitely retain the upper hand, but this is not to say that by 2027, there won’t be more projects underway in the Middle East and the United Arab Emirates in particular. The GCGRA seems likely to hurry up and present at least a draft of gambling laws in the coming months, and possibly before the year is out.

This timeline actually coincides with MGM’s previous hopes to see the gambling industry in the region get underway even sooner.

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UAE Gambling Regulator Appoints Jim Murren As Chairman https://kenowizard.com/2023/09/06/uae-gambling-regulator-appoints-jim-murren-as-chairman/ https://kenowizard.com/2023/09/06/uae-gambling-regulator-appoints-jim-murren-as-chairman/#respond Wed, 06 Sep 2023 10:37:41 +0000 https://kenowizard.com/2023/09/06/uae-gambling-regulator-appoints-jim-murren-as-chairman/ Wynn Resorts is one of a number of gambling companies looking to enter the UAE industry. (Photo: CNN) The appointment of Jim Murren as the Chairman of the General Commercial Gaming Regulatory Authority (GCGRA) in the United Arab Emirates (UAE) and the development of the Wynn Al Marjan Island casino resort in Ras Al Khaimah [...]

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Wynn Resorts planning UAE casino
Wynn Resorts is one of a number of gambling companies looking to enter the UAE industry. (Photo: CNN)

The appointment of Jim Murren as the Chairman of the General Commercial Gaming Regulatory Authority (GCGRA) in the United Arab Emirates (UAE) and the development of the Wynn Al Marjan Island casino resort in Ras Al Khaimah signal a significant shift in the UAE’s approach to gambling and commercial gaming activities.

Murren, who previously served as the Chairman and CEO of MGM Resorts International, brings a wealth of experience in the gaming industry to his role as Chairman of GCGRA. His appointment suggests that the UAE is serious about establishing a regulatory framework for lottery and commercial gaming activities, indicating a willingness to embrace these forms of entertainment.

The General Commercial Gaming Regulatory Authority’s goal is to create a comprehensive regulatory framework for lottery and commercial gaming in the UAE. This framework will likely include guidelines and regulations for casino resorts, gambling establishments, and related activities.

he development of Wynn Al Marjan Island, a casino resort with an estimated value of $3.9 billion, is a clear indication of the UAE’s commitment to entering the gaming and entertainment industry. Wynn Resorts Ltd., a well-known player in the global gaming industry, will oversee the management of this resort, further signaling the UAE’s intent to attract international gaming operators.

The optimism expressed by Wynn Resorts CEO Craig Billings during the second-quarter earnings call suggests that there is confidence in obtaining a gaming license for Ras Al Khaimah. This is a positive development for both the casino industry and the UAE’s efforts to expand its entertainment offerings.

The UAE has been traditionally conservative in its approach to gambling, with strict laws against it. However, recent efforts to allow alcohol consumption and permit cohabitation for couples indicate a broader shift towards a more open and liberal approach to certain aspects of lifestyle and entertainment.

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Wynn Resorts Reports Strong Q2 Performance and Unveils UAE Resort Project https://kenowizard.com/2023/08/10/wynn-resorts-reports-strong-q2-performance-and-unveils-uae-resort-project/ https://kenowizard.com/2023/08/10/wynn-resorts-reports-strong-q2-performance-and-unveils-uae-resort-project/#respond Thu, 10 Aug 2023 12:15:05 +0000 https://kenowizard.com/2023/08/10/wynn-resorts-reports-strong-q2-performance-and-unveils-uae-resort-project/ Wynn Resorts, a prominent player in the global hospitality and gaming industry, released its second-quarter financial results, showcasing robust growth in both North America and Macau.  Wynn Resorts Reports Strong Revenue Surge and Resilience in Macau Market The company reported operating revenues of $1.60 billion for the second quarter ended June 30, 2023, marking a [...]

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Wynn Resorts, a prominent player in the global hospitality and gaming industry, released its second-quarter financial results, showcasing robust growth in both North America and Macau. 

Wynn Resorts Reports Strong Revenue Surge and Resilience in Macau Market

The company reported operating revenues of $1.60 billion for the second quarter ended June 30, 2023, marking a substantial increase of $687 million compared to the same period in 2022.

CEO of Wynn Resorts, Craig Billings, expressed enthusiasm for the remarkable results. He highlighted the strong performance of Wynn Las Vegas and Encore Boston Harbor in the United States, which contributed to a new second-quarter record for Adjusted Property EBITDAR at their combined North American properties. Additionally, the recovery in Macau’s market after the pandemic was accelerated, with notable growth in the mass gaming, luxury retail, and hotel sectors.

The company reported net income attributable to Wynn Resorts of $105.2 million for the second quarter of 2023, a significant turnaround from a net loss of $130.1 million in the second quarter of 2022. Diluted net income per share for the same period was $0.84, compared to a diluted net loss per share of $1.14 in the previous year.

In Q2 2023, Wynn Palace‘s revenues rose to $468.4 million from $58.7 million last year, with VIP table games at 4.24% turnover. Wynn Macau‘s revenues increased to $301.6 million from $58.6 million, with VIP table games at 4.16% turnover, and both properties saw improved mass market table game performance.

In Q2 2023, Las Vegas Operations revenue reached $578.1 million, up by $17.0 million from last year, with a 22.9% table games win percentage. Encore Boston Harbor‘s Q2 2023 revenue was $221.9 million, a rise of $11.8 million, and its table games win percentage was 22.3%, exceeding the expected range.

Wynn Resorts Embarks on $3.9 Billion UAE Resort Venture for Future Growth

Billings also took the opportunity to announce the commencement of construction on Wynn Al Marjan Island, an ambitious integrated beachfront resort in Ras Al Khaimah, United Arab Emirates (UAE). The project, a collaboration with local partners Marjan LLC and RAK Hospitality Holding LLC, is expected to transform the region into a must-visit tourism destination. 

The $3.9 billion development is modeled after Wynn’s Las Vegas properties, emphasizing non-gaming amenities, and is scheduled to open in 2027.

Despite global uncertainties, Wynn Resorts remains optimistic about its future growth prospects. The company’s diversified portfolio, including Wynn Las Vegas, Encore Boston Harbor, and properties in Macau, positions it well to capitalize on various market trends. Investors responded positively to the results, with the company’s stock price rising by 1.12% in after-hours trading. Wynn Resorts’ solid second-quarter performance indicates its resilience and strategic focus, positioning it to navigate the evolving dynamics of the global hospitality and gaming industry.

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UAE Might Greenlight Gaming in 2023, MGM Resorts Hopes https://kenowizard.com/2023/05/03/uae-might-greenlight-gaming-in-2023-mgm-resorts-hopes/ https://kenowizard.com/2023/05/03/uae-might-greenlight-gaming-in-2023-mgm-resorts-hopes/#respond Wed, 03 May 2023 15:48:16 +0000 https://kenowizard.com/2023/05/03/uae-might-greenlight-gaming-in-2023-mgm-resorts-hopes/ MGM Resorts International, a global gaming and hospitality giant, is currently eyeing the situation in the United Arab Emirates, where Wynn Resorts is building a multibillion-dollar property. The country previously claimed that it will not legalize gambling in spite of the aforementioned property but MGM Resorts thinks otherwise. The company is hopeful that either Dubai [...]

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MGM Resorts International, a global gaming and hospitality giant, is currently eyeing the situation in the United Arab Emirates, where Wynn Resorts is building a multibillion-dollar property. The country previously claimed that it will not legalize gambling in spite of the aforementioned property but MGM Resorts thinks otherwise.

The company is hopeful that either Dubai or the UAE as a whole will approve gambling in the near future. In fact, this may be further discussed in the UAE as soon as this year, MGM believes, as cited by Skift.

While Wynn is currently occupied with building a large property on Al Marjan Island in Ras Al Khaimah, MGM isn’t a stranger to the UAE either. In 2017, the casino and hospitality specialist unveiled its plans for a 1,000-room Dubai-based resort.

MGM hopes that the Arab country will eventually reconsider its harsh stance on gambling, allowing MGM to add a casino to the property it manages. However, the decision will ultimately be in the hands of Abu Dhabi and the national government, said Bill Hornbuckle, MGM Resort’s president and chief executive officer.

Gaming Will Likely Be Discussed by the End of Summer 2023

Hornbuckle is optimistic that the UAE will at least consider the matter by the end of summer 2023. However, he realizes that each emirate might have a different stance on this.

The CEO noted that the potential launch of gambling in Dubai is what matters the most to his company. However, he added that his team will not miss out on the opportunities in other Arab emirates, should they back down on their disdain for gambling.

Coincidentally, MGM Resorts’ property in Dubai has a 150,000-200,000-square-foot space that can be easily converted into a gaming hall. However, Hornbuckle conceded that only time will tell whether this will happen.

Wynn Is Just as Hopeful

Speaking of gambling in the UAE, Wynn Resorts continues with the development of its Al Marjan Island property. The operator’s ultimate goal is, in its words, to recreate the Las Vegas Strip in the UAE.

While the country is still reluctant on allowing gaming, the project has progressed without major hiccups so far. In March, Wynn named ALEC Engineering and Contracting as the contractor of its unprecedented property in Ras Al Khaimah.

A few days ago, Wynn shared the first concept images of its ambitious projects, allowing industry enthusiasts to take a peek at what’s to come. A few days later, the casino and entertainment company named Thomas Schoen as the president of Wynn Al Marjan.

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Wynn Resorts Wants to Build “Las Vegas Strip” in the UAE https://kenowizard.com/2023/03/06/wynn-resorts-wants-to-build-las-vegas-strip-in-the-uae/ https://kenowizard.com/2023/03/06/wynn-resorts-wants-to-build-las-vegas-strip-in-the-uae/#respond Mon, 06 Mar 2023 12:48:27 +0000 https://kenowizard.com/2023/03/06/wynn-resorts-wants-to-build-las-vegas-strip-in-the-uae/ The Al-Marjan island which will be hosting the upcoming casino resort which may not be the only property in the vicinity, as Wynn seeks to evoke a Las Vegas vibe to the future venture. Wynn Resorts Confident in the Success of “Vegas Strip” in UAE According to company filings, Wynn Resorts has already registered “Arabian [...]

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The Al-Marjan island which will be hosting the upcoming casino resort which may not be the only property in the vicinity, as Wynn seeks to evoke a Las Vegas vibe to the future venture.

Wynn Resorts Confident in the Success of “Vegas Strip” in UAE

According to company filings, Wynn Resorts has already registered “Arabian Strip” and “Marjan Strip” as trademarks, meaning that the company is not only looking to establish a resort but ensure that it benefits from its first-mover advantage.

The terms are a clear allusion to the Las Vegas Strip, which is the term usually used to describe the place in Las Vegas where the casino resorts are located. They are actually not in the city itself.

Wynn Resorts is building its project across an artificial island and the company will be spending $2 billion to bring it to bear. Wynn is teaming up with RAK Hospitality Holding LLC, a local developer, which will see through the construction work of the upcoming venue.

Wynn CEO Craig Billings has already confirmed that the company is forging ahead with plans to introduce gambling in the United Arab Emirates, specifically across its casino resort. New renderings and plans will be revealed publicly over the coming months, Billings confirmed.

The project is expected to arrive in 2026, with the first sod expected to take place later in 2023, and the finished property to materialize itself by the end of 2026. The area will have a range of amenities, including dining venues, meeting spaces, event halls, accommodations and more.

Some Reason for Skepticism After All

While introducing a Vegas-style gambling in the UAE would have a transformative impact on the region’s reputation for opposing gambling, Wynn’s enthusiasm alone will not suffice. The decision would ultimately lie with the UAE and whether the country feels like greenlighting casino gambling on its territory.

Just because the company wishes to use the same term to describe its project, though, doesn’t mean it would be quite the same experience as well. The Las Vegas Strip presently plays host to more than 30 casinos whereas the Marjan Strip is only going to host Wynn’s casino for now.

Wynn though is determined to wow local and international audiences. The company has contracted the same architect studio behind the Palazzo Las Vegas, Venetian Macau, and the Atlantis Paradise Island, HKS Architects. Meanwhile, rivals Caesars and MGM Resorts are somewhat present in the region.

Caesars runs a luxury hotel in Dubai, and MGM Resorts International is building a tourism-focused property that has made no mentions of gambling just yet. The investment in Wynn’s property is solid, with the company expecting 20% ROI. More details will be forthcoming.

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