The United Arab Emirates, with its opulent resorts and renowned horse racing industry, may soon have a new drawcard to draw in visitors: gambling.
Earlier this week, the United Arab Emirates (UAE) announced the establishment of a new regulatory body, composed of casino and gambling professionals from the United States, to oversee commercial gaming. Currently, gambling is prohibited in the UAE, some of which are derived from the Quran, which prohibits the practice of gambling.
The new federal body, called the General Commercial Gaming Regulatory Authority (GCGRA), would create a “regulatory framework for a national lottery and commercial gaming,” according to Emirati state media WAM.
“GCGRA will facilitate unlocking the economic potential of commercial gaming responsibly,” WAM said.
Industry veterans Kevin Mullally and Jim Murren have been hired for key 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 industry.
“I look forward to establishing a robust regulatory body and framework for the UAE’s lottery and gaming industry,” Mullally said on his new appointment, according to WAM.
Last year, casino operator Wynn Resorts inked a deal to build a luxury resort in Ras Al Khaimah in the United Arab Emirates with a “gaming area.” A statement by Wynn Resorts (WYNN) did not elaborate on whether gambling would be involved, but Craig Billings, CEO of Wynn Hotels, told shareholders in an earnings call on August 9 that the resort expects to have a license for gaming operations in Ras Al Khaimah “imminently.”
“There should be no concern that there is a broader legalization process in order for gaming to occur in that property,” Billings told shareholders.
G
