Abu Dhabi and Ras Al Khaimah are spearheading the move to introduce casinos in the United Arab Emirates (UAE), diverging from Dubai's current stance. After legalizing gaming in September, Abu Dhabi is considering locations for a casino, including Yas Island and near the city's port. Yas Island is notable for attractions like Ferrari World, Warner Bros. theme parks, and the Yas Marina Formula One Circuit.
Ras Al Khaimah, a northern emirate, has a significant project underway with Wynn Resorts Ltd. planning a .9 billion integrated resort, expected to open in 2027. Dubai, in contrast, has put gambling initiatives on hold, focusing instead on its thriving tourism sector. Officials in Dubai are contemplating introducing a poker series, although the city's stance on casinos remains uncertain and subject to change.
The introduction of casinos marks a significant shift in the UAE, where Shariah law, prohibiting gambling, is a key legislative foundation. The UAE is considering issuing one casino license per emirate, allowing controlled expansion into the lucrative casino market. This decision is left to the rulers of each emirate.
The recent Israel-Hamas conflict has not deterred industry executives' enthusiasm for this expansion. MGM Resorts International's CEO, Bill Hornbuckle, expressed optimism about the potential for casinos in the UAE, citing a project underway in Dubai with local developer Wasl, backed by Dubai's ruler.
Despite Dubai's current position against hosting a casino, it could still benefit from the visitor traffic to casinos in Abu Dhabi or Ras Al Khaimah. The UAE's gaming revenue is projected to reach up to .6 billion annually, potentially surpassing Singapore's market. A notable development is the Accor hotel group's decision to replace Caesars Palace in Dubai with a Banyan Tree resort, following the UAE's establishment of a gaming and lottery regulator. This move occurred shortly after Caesars Entertainment Inc.'s 2018 resort opening in Dubai, where they initially aimed to include a casino.