US hotel and casino operator Wynn Resorts has obtained the first commercial gambling license granted by the gaming authority in the United Arab Emirates, the company said on Friday, as cited by several media outlets.
The Nevada-based company is currently developing a luxury resort at Wynn Al Marjan Island in Ras Al Khaimah, according to a statement seen by Reuters and Bloomberg. The project is a joint venture between Wynn, Marjan and RAK Hospitality Holding.
In August, Wynn Resorts said that it had invested $514 million in the 1,542-room resort, which is expected to welcome its first guests in 2027.
The UAE, as well as other countries across the Gulf region, has long been known for its blanket ban on both online and land-based casinos, as gambling is prohibited in Islam. However, casino operators have been seeking to develop a resort that would attract visitors from Europe, Asia, and other regions.
Last year, meanwhile, the UAE established a new regulatory body in an attempt to introduce a legal framework for a national lottery and commercial gaming.
In September, US hospitality and entertainment company MGM Resorts said it had applied for a gambling license for a property that it is building in Abu Dhabi.
In 2022, the UAE authorities approved a national tourism plan that aims to attract around $27.2 billion in investment in the tourism sector, boost the sector’s contribution to GDP to $122.5 billion, and also welcome some 40 million hotel guests by 2031.