MGM Resorts International is still awaiting regulatory clearance to launch a casino at its forthcoming $2.5 billion integrated resort in Dubai, as stated by CEO Bill Hornbuckle, contrary to earlier anticipations for a swift verdict.
“I expected Abu Dhabi to have reached a decision on the matter by now,” Hornbuckle commented during a recent industry event, alluding to the desirable regulatory endorsement. “There’s extensive ongoing dialogue on this issue.”
The resort, currently under construction on a 25-acre man-made island adjacent to Jumeirah Beach and the Burj Al Arab, is being developed in collaboration with the state-owned Wasl group. This venture will include MGM Grand, Bellagio, and Aria-branded hotels, plus a 250,000-square-foot podium designed to house a casino if permitted by regulatory guidelines.
Though a federal gaming regulator, the General Commercial Gaming Regulatory Authority (GCGRA), has been recently created to supervise commercial gambling activities in the UAE, the ultimate decision on casino operations resides with the rulers of each emirate.
Hornbuckle emphasized that they are still awaiting an official response from Dubai’s leadership. “We have not yet received the go-ahead from Dubai’s ruler,” he remarked. “I’m not sure when we’ll get an update, but I am optimistic… If this venture includes a casino, which I believe will happen in due time, we see this as an enormous opportunity.”
MGM submitted its licensing application to the GCGRA in September 2024. Future approvals will likely require both federal coordination and local authorization. Jim Murren, MGM’s former CEO, currently chairs the GCGRA.
Construction progress at the resort on Al Marjan Island
In the meantime, competition within the UAE’s emerging casino market is intensifying. Wynn Resorts is set to unveil the country’s first casino at its upcoming location in Ras Al Khaimah.
The resort on Al Marjan Island is expected to be the UAE’s only licensed casino upon its 2027 opening, according to Wynn CEO Craig Billings. He projected last month that it will be “the first and only casino in the nation.”
Wynn is also broadening its presence in Ras Al Khaimah with an additional acquisition of 70 acres, fueling speculation about a potential second property in the emirate. Analysts predict the UAE gaming sector could generate annual revenues upward of $8 billion, whereas Wynn has suggested estimates around $5 billion.
Despite Wynn’s ambition for a stronghold in the market, sources cited by Arabian Gulf Business Insight indicate that other operators may eventually gain licenses, raising concerns about the likelihood of a long-term monopoly.