Difference between revisions of "The UAE Prepares To Legalize Gambling With Brand-new Regulatory Body"

Latest revision as of 11:51, 27 March 2026

Abu Dhabi CNN -
With its glitzy high-end resorts and a world-renowned horse racing industry, the United Arab Emirates quickly might have a new card to play in bring in visitors - betting.


The UAE presented a new regulative body to supervise industrial gaming on Monday, comprised of casino and betting specialists from the United States. Gambling is currently illegal in the UAE, where some laws are based on the Quran, which prohibits the practice.


The brand-new federal body, called the General Commercial Gaming Regulatory Authority (GCGRA), would create a "regulatory structure for a nationwide lottery and business gaming," according to Emirati state media WAM.


" [GCGRA will] facilitate unlocking the financial capacity of industrial video gaming properly," WAM stated.


Industry veterans Kevin Mullally and Jim Murren have actually been employed for crucial roles as CEO and chair respectively in the GCGRA, according to WAM.


The two executives have a combined 32 years of experience in the gambling market according to LinkedIn - Murren is the former CEO of MGM Resorts International (MGM), while Mullally held various positions at Gaming Laboratories International.


"I look forward to developing a robust regulatory body and structure for the UAE's lotto and gaming industry," Mullally stated on his brand-new appointment, according to WAM.


Last year, casino operator Wynn Resorts tattooed an offer to build a high-end resort in Ras Al Khaimah in the United Arab Emirates with a "video gaming location." A declaration by Wynn Resorts (WYNN) did not elaborate on whether gambling would be included, however Craig Billings, CEO of Wynn Hotels, told investors in a revenues call on August 9 that the resort expects to have a license for gaming operations in Ras Al Khaimah "imminently."


"There ought to be no issue that there is a wider legalization procedure in order for gaming to occur in that property," Billings told investors.


Global gambling establishment company Caesars Entertainment (CZR) has actually run a non-gambling hotel in Dubai because 2018.


Legalized gaming in the UAE would likely be of interest to cruise liners such as MSC and Royal Caribbean Cruise, which frequent the UAE's ports with gambling on board. But gambling is prohibited in UAE waters, so casinos are prohibited from running while docked, according to Costa Cruises and Oceania's FAQ pages.


Dubai prides itself as the "cruise center of the region," harboring 1,750 cruise liner each year. The UAE's capital Abu Dhabi saw a record number of 700,000 cruise tourists between May 2022 and 2023.


Overall tourist currently represents 9% of the UAE's GDP. If 1.6% of the UAE's GDP was based on gaming - as it is in Singapore - it would generate $6.6 billion dollars of earnings yearly, Bloomberg experts reported on Monday.