Several Middle East nations have been working hard to shed their ultra-conservative reputation over the past few years.
The United Arab Emirates (UAE) has been at the forefront of the bid to modernise – a point evidenced by their willingness to embrace gaming.
Investing Big in Luxury and Entertainment
Wynn Resorts recently took out a $2.4 billion loan to finance the Al Marjan Island project, setting a record for the largest hospitality financing transaction in the history of the UAE.
Only 50 minutes away from the Dubai International Airport, the Wynn Al Marjan Island will redefine luxury tourism experiences in the Middle East.
The resort will have 1,542 rooms, 22 restaurants and lounges, a nightclub, a beach club, gaming facilities and a 145,000-square-foot meeting and events centre.
Almost two-thirds of the structure is done, with Wynn pushing to complete one floor per week and eventually open its gates to the world in early 2027.
This project is poised to change the game in Middle Eastern tourism.
Considering Regulations and the Future of Gaming
The Wynn Resort will have the first physical gambling space in the UAE and will operate under the control of the General Commercial Gaming Regulatory Authority (GCGRA).
The creation of the GCGRA was a precursor to the UAE softening its stance around gambling, which will help the country attract more international tourists and investors.
Regulating gaming within a controlled environment could have a major impact across the region. It will encourage the UAE’s neighbours in the Middle East to reconsider their stance on gaming.
A proper gaming industry with the right regulations is a tourism booster. It will generate revenue and create jobs, as we have seen in other successful gaming centres such as Macau and Las Vegas.
Knock-On Effect on Online Gaming
Legalising gaming in Wynn Al Marjan Island will eventually lead to the UAE releasing the brakes on the online gaming sector.
The GCGRA has been tasked with overseeing land-based gaming operations and digital platforms. Online gaming operators will have new opportunities.
International gamblers will soon be able to use the best Arab casinos online in a regulated environment, thus ensuring they have the requisite player protections on place.
This is a massive opportunity considering the growing digital economy in the Middle East and the high internet penetration rate.
A regulated gaming market protects gamers while contributing to government revenue. The United Kingdom is the blueprint for successfully embedding online gaming within a regulatory structure.
The UAE will likely be taking a leaf out of their book to implement a similar regulatory framework for online gaming.
Wynn Will use Their Vast Expertise to Change the Landscape in the USE
Wynn Resorts is a renowned worldwide brand in the hospitality business, having navigated regulatory hurdles in numerous different places from Las Vegas to Macau and more.
Every market has different laws and a unique environment, but Wynn have shown willingness to tailor their offerings to the local regulations. It has been a hallmark of their success.
For example, Macau was a small provincial region of China that shed its colonial character for massive commercial and tourist development.
Macau has subsequently grown into the largest casino hub in the world since opening up its doors to foreign operators.
The province grew off the back of a strong regulatory framework that allowed expansion and mapped a path to economic development.
Marina Bay Sands and Resorts World Sentosa of Singapore are other exciting examples of how a regulated gaming industry can sprout in a place that previously rejected the sector.
If Wynn Al Marjan Island records the kind of success experts predict in the UAE, it will be a template for other countries in the Middle East looking to keep pace.
The key for the UAE will be finding the perfect balance between regulation, responsible gaming and rapid economic growth. They can be pacesetters for a new era of entertainment tourism in the Gulf.
