New milestone
The possibility of the United Arab Emirates (UAE) getting its first-ever casino is another step closer to reality following the issuance of a lottery license and the publication of rules for the gambling sector.
The Game LLC is the recipient of the first-ever license
The General Commercial Gaming Regulatory Authority (GCGRA) published a press release on Sunday announcing that The Game LLC is the recipient of the first-ever license to operate lottery games.
The commercial operator will use the ‘UAE Lottery’ name and the company will provide “a diverse range of lottery games and other games designed to cater to players’ variety of interests and financial preferences.”
A landmark day
Former MGM Resorts International CEO and current chairman of the UAE’s federal gambling regulator Jim Murren heralded the lottery launch as a pivotal event, showcasing the commitment to developing a commercial gambling environment in the region.
GCGRA CEO Kevin Mullally said the new regulatory framework aims to ensure fairness, transparency, and integrity, leveraging new technologies to achieve this while also promising entertaining games to consumers.
The press release reminded people that it is illegal to gamble at unlicensed gambling platforms and severe penalties await anyone facilitating this type of activity within the UAE.
Casinos on the horizon
While land-based casinos might be on the back burner for now, the GCGRA website outlines its plans regarding the issuance of licenses, as well as regulating table games and slot machines.
a gambling license in the UAE will be subject to an audit every two years
Any business that secures a gambling license in the UAE will be subject to an audit every two years, they will need a key person to look after socially responsible gaming efforts, and must establish or form a relationship with a qualifying domestic entity, which is a company that has substantial business operations in the region.
Estimates are that UAE casinos could generate US$8.5bn in annual revenue when the sector matures, which could bypass the existing market in Singapore.
The race to get a foothold in the UAE’s upcoming casino market is well underway, with Wynn Resorts already in the process of building a US$4bn resort on the Marjan Islands in Ras Al Khaimah with a 2027 opening date. Wynn expects to be the first recipient of a casino license and has an area in its development reserved for a gaming floor. Land values in the area are skyrocketing due to this expectation.