MGM Resorts has officially submitted its proposal to the UAE government to operate a casino, CEO Bill Hornbuckle announced during the Skift Global Forum 2024.
Although the Las Vegas-based company currently lacks operational hotels in the region, it is the first to publicly confirm its application for a legal casino license.
“Yes, we have applied. We’ve done it in Abu Dhabi,” Hornbuckle stated during the Skift Global Forum 2024, expressing optimism about securing the license. The MGM CEO explained that the approval process involves the federal government in Abu Dhabi, with each emirate having the authority to grant or deny casino operations.
MGM is currently developing a non-gaming resort in Dubai, the UAE’s largest city, with three hotel towers totaling 1,500 rooms branded under the Aria, MGM Grand and Bellagio names.
Hornbuckle added he was hopeful that more clarity on the licensing process will emerge this year, following the UAE’s General Commercial Gaming Regulatory Authority (GCGRA) opening proposals for gaming licenses in July. The licensing process includes a preliminary intake form and screening, after which successful applicants may apply for a casino license.
Interestingly, the GCGRA is chaired by Jim Murren, Hornbuckle’s former boss at MGM, although Murren is not part of the selection committee for gaming licenses.
While MGM has applied for a casino license, the company currently has no active projects in Abu Dhabi, the UAE’s capital. Previously, MGM announced plans for a non-gaming project in the emirate in 2006, which did not materialize. The company does have a non-gaming development underway in Dubai.
Hornbuckle emphasized that MGM will not venture into Abu Dhabi without a casino license, stating, “That’s the business MGM is in.”
Competition from Wynn Resorts
MGM faces competition from Wynn Resorts, which is further ahead in establishing a presence in the UAE with the Wynn Al Marjan Island project.
Wynn is set to open a $3.9 billion resort in Ras Al Khaimah, another emirate, and has plans for a casino. While Wynn has not officially confirmed its application for a gaming license, a spokesperson indicated that the company is reviewing the necessary guidelines.
Wynn’s CEO Craig Billings, has already expressed his belief that the UAE represents the “most exciting new market for our industry in decades”.
Hornbuckle acknowledged the cultural barriers to expanding gaming in the UAE but expressed confidence that progress is being made. “There’s going to be something happening in Abu Dhabi; it’ll take some time to build. Wynn is already out of the ground,” he noted.
