Wynn Resorts is doubling down on its investment in a new IR in the UAE, with Wynn Al Marjan Island expected to get a $900 million investment from the company, of the total $4 billion needed for the project. The group's CEO notes that construction is going smoothly, with expectations to open the property by 2027.

Wynn Resorts' Chief Executive Officer, Craig Billings, revealed recently that the group's Wynn Al Marjan project in the UAE should absorb almost $900 million in investment. As for Thailand, the group is "actively" considering possible greenfield development opportunities and observing the development of its future gaming regulatory framework.

The cost of doing business in Thailand and the estimated margins make the possible future gaming market very compelling, while the UAE holds potential, notes the CEO and President of MGM Resorts International.

The recently formed General Commercial Gaming Regulatory Authority (GCGRA) of the United Arab Emirates (UAE) is making its presence known by requiring all operators in the region to suspend operations effective January 1. This includes popular lottery operators such as Mahzooz and Emirates Draw, with no timeframe for the suspension of play having been given yet.

The UAE continues to rise to the forefront, with new announcements that the JW Marriott is going to be opening a property on Al Marjan island at Wynn Resorts’ new proposed integrated resort.

In its latest investment note, Deutsche Bank points out that Wynn Resorts' management believes the gaming operator will be the first to market in the UAE for a few years. They note that it's highly unlikely for every Emirate to have an integrated resort, citing reasons ranging from cultural nuances to population density and visitation.

The possible legalization of gambling in the UAE, would be a considerable opportunity, the management of MGM Resorts International stated in the group's third quarter 2023 earnings conference call.

MGM Resorts International CEO Bill Hornbuckle expressed optimism that the United Arab Emirates (UAE) would become a hub for casino resorts and pointed out that the group's project is awaiting a nod from the Emirati authorities.

While the UAE holds massive potential, with Asian and Western operators keen to move in on the space, an insider says that gaming regulation is still unlikely this year, despite authorities "moving with a sense of urgency". While expectations are high, a UAE-based lawyer delineates which restrictions and investment obstacles may abound for companies seeking to capitalize on the latest market.

As a wealthy nation with a growing population and a reputation as a popular tourist destination, the United Arab Emirates (UAE) possesses significant growth potential in the gaming sector and major players from Asia and Las Vegas are likely to get a piece of the action. UAE-based lawyer Moses Charles Kivuna, breaks down the possible restrictions and restrictions for investors.