Ras Al Khaimah Targets Millions with $3.8 Billion Casino Resort

Wynn Resorts, a prominent Las Vegas hotel operator, has officially secured the first gaming license issued in the United Arab Emirates (UAE), paving the way for its ambitious $3.9 billion resort project in Ras Al Khaimah. The company is targeting a lucrative market of "ultra high-net-worth" individuals while also aiming to draw tourists from around the world.

In an investors' report released recently, Wynn highlighted the UAE as its most exciting market for integrated resort development in decades. The forthcoming Wynn Al Marjan Island resort is expected to capture the untapped domestic gaming demand from the UAE’s sizable expatriate community while also attracting high-end gaming clientele from abroad.

The five-star resort, set to open in 2027, will feature an array of amenities, including 1,500 luxurious rooms, suites, and villas, alongside two dozen restaurants, a full-service spa, an event center, and a theatre, all with breathtaking views of the Arabian Gulf. Wynn emphasizes that construction is progressing swiftly, and they anticipate that the resort will provide significant long-term economic benefits to the region.

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The gaming license, granted by the UAE's General Commercial Gaming Regulatory Authority (GCGRA), follows a thorough evaluation process. Wynn expressed gratitude for the trust and confidence represented by this milestone. The company stated, “Wynn Resorts thanks the GCGRA for the confidence and trust the license grant signifies and is proud to be the recipient of the first commercial gaming facility license in the UAE. We are underway with the construction of our resort in Ras Al Khaimah and look forward to being a key partner in the development of its tourism economy.”

The GCGRA confirmed the license award to The National, emphasizing its commitment to developing a robust regulatory framework for commercial gaming activities in the UAE. While gambling remains prohibited in the Emirates, the GCGRA is tasked with overseeing various commercial gaming activities, including lotteries, internet gaming, sports wagering, and land-based integrated gaming resorts.

Wynn’s foray into the Middle East is poised to generate considerable interest. The Marjan Island project comprises four reclaimed islands, offering over 7.8 kilometers of pristine beaches and 23 kilometers of waterfront, alongside world-class hotels and residential developments. The initiative is expected to create at least 4,000 jobs, making it a potential catalyst for tourism growth in the emirate. Raki Phillips, CEO of the Ras Al Khaimah Tourism Development Authority, remarked that the economic advantages would be substantial, stimulating foreign direct investment and job creation.

As part of its efforts to establish a well-regulated gaming environment, the GCGRA was created in September of the previous year, led by industry veterans tasked with overseeing commercial gaming activities throughout the UAE. In July, the authority also issued a license for the country’s first authorized lottery, operated by The Game LLC under the UAE Lottery banner, which is expected to provide a diverse range of games.

Since its formation, the GCGRA has been focused on developing a regulatory framework aimed at ensuring the integrity, fairness, and transparency of commercial gaming activities. Engaging in any commercial gaming activities without approval from the GCGRA is illegal, and violations can lead to severe penalties.

Wynn Resorts' entry into the UAE gaming market marks a significant milestone, showcasing the growing potential for luxury integrated resorts in the region. With a commitment to creating a premier gaming and hospitality destination, Wynn is set to play a pivotal role in shaping the future of tourism in Ras Al Khaimah.

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