The CEO of MGM Resorts, Bill Hornbuckle, expressed surprise that the UAE government has not yet granted a casino licence for its $2.5 billion beachfront resort in Dubai. Despite the delay, Hornbuckle remains confident in the long-term prospects of the project, which is expected to open in 2028.
Speaking at a gaming industry conference, as reported by Arabian Gulf Business Insight (AGBI), Hornbuckle revealed that MGM had anticipated a decision on the casino license by now. “I thought by now, Abu Dhabi would have ruled on what they were doing,” he said.
“There’s a lot of dialogue around that.” MGM’s Dubai resort is under construction on a 25-acre man-made island near Jumeirah Beach and the Burj Al Arab, with plans to include the MGM Grand, Bellagio, and Aria hotels, along with a podium structure designed to house a casino if approved.
In September 2024, MGM confirmed that the company had officially applied for a casino license to the General Commercial Gaming Regulatory Authority (GCGRA), with approval potentially coming from both the federal government in Abu Dhabi and the local rulers of individual emirates. This regulatory framework allows individual emirates, like Dubai, to decide on gaming permissions within their jurisdictions.
While MGM awaits approval, competition in the UAE’s casino market is intensifying. Last month, Wynn Resorts’ CEO Craig Billings stated that the company expects its resort in Ras Al Khaimah, slated to open in 2027, to be the first and only casino in the country.
Wynn is also eyeing expansion, having recently acquired an additional 70 acres of land for a potential second casino. Analysts predict the UAE’s casino market could generate annual revenues as high as $8 billion, with Wynn anticipating a monopoly in the market for the foreseeable future.
Despite the competitive landscape, Hornbuckle remains optimistic about MGM’s Dubai resort. He emphasized that the project’s 250,000-square-foot podium is already built and could be converted into a casino if granted approval. “We don’t have permission yet from the ruler of Dubai to go forward,” he said, “but I do believe this […] If this gets a casino, and I believe it will over time, we think it’s a massive opportunity.”
Arabian Gulf Business Insight (AGBI) also cited sources familiar with the matter who have suggested that it is unlikely Wynn will be the only operator in the UAE, leaving the door open for MGM to secure the necessary approvals in the future.
It is also worth noting that the UAE gaming regulator, GCGRA, is now chaired by former MGM CEO Jim Murren.
