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Casino Operator Wynn Plans UAE Resort With Gaming Facilities

Casino Operator Wynn Plans Resort With Gaming Facilities in UAE

Wynn Resorts Ltd., the Las Vegas-based hotel and casino operator, plans to develop a multi-billion-dollar resort off the coast of the United Arab Emirates which is set to include a “gaming area.” 

The project, set to be built on Al Marjan island in the UAE emirate of Ras Al Khaimah, comes as the sheikhdom’s Tourism Development Authority, known as RAKTDA, formed a new division to regulate what it called “integrated resorts” which are set to include gaming facilities, according to an e-mailed statement from the authority. 

The new government authority will set the rules for “licensing, taxation, operational procedures, and consumer safeguards” needed to regulate gaming in those resorts, it said. “The foremost priority of this new division is to create a robust framework that will ensure responsible gaming at all levels.”

Rumors swirled for months last year about plans to allow gambling within the United Arab Emirates, which were quickly denied by the government. Allowing gambling is controversial in the Muslim world. It wasn’t immediately clear if “gaming” referenced in the statements means gambling.

Ras Al Khaimah’s Tourism Development Authority said it will consider the “social, cultural, and environmental landscape of the Emirate,” as it comes up with regulations. 

The planned resort is scheduled to open in 2026 and will include more than 1,000 rooms, along with a gaming area, meeting and convention facilities as well as entertainment options. The resort will be developed with “significant foreign direct investment by Wynn Resorts,” the statement said, without giving a specific figure.

©2022 Bloomberg L.P.