MGM Resorts has officially applied for a casino license in the United Arab Emirates, becoming the first high-profile operator to take such a step in this burgeoning market. The announcement was made directly by MGM CEO Bill Hornbuckle at the 2024 Skift Global Forum, highlighting MGM’s strategic move to expand its global presence in the Middle East.
Strategic Applications in Abu Dhabi:
According to Hornbuckle, MGM has targeted applications for casino licenses in Abu Dhabi, a region ripe for such investments. “Yes, we [applied]. We applied from Abu Dhabi,” he said, as reported by Skift. “The federal government in Abu Dhabi will approve it, and we have applied and we hope to be able to obtain a license there. Each ruler has its own city and state. Each ruler can say yes or no.” 카지노사이트 모음
The UAE’s General Commercial Games Regulatory Authority (GCGRA) began accepting offers for gaming licenses in July, an important move MGM quickly moved forward with. The application process includes preliminary applications and screenings and opportunities to apply for casino licenses. MGM’s entry into the UAE, in particular, has not yet included hotels operating in the region, with casino initiatives as its main focus.
“This year, we hope to understand more about Abu Dhabi and the federal government’s orders and move on from there,” Hornbuckle said, expressing a hopeful outlook for getting the necessary approval to launch operations. While Abu Dhabi’s non-gaming project has previously been disrupted, MGM is refocusing on securing casino licenses that are in line with its core business interests.
Competitive environment and Wynn Resort location:
With MGM making headlines for its licensing applications, Wynn also has a large investment in the United Arab Emirates, with a $3.9 billion resort already under construction in Ras al-Kaima. Wynn has begun physical development but has yet to confirm whether to license it, adding an interesting dynamic to the competition.
MGM’s relationship with the UAE is nothing new, given that it has worked with Dubai World in joint ventures such as the City Center project in Las Vegas. Going forward, MGM plans to leverage this relationship to strengthen its position in the UAE, particularly in Abu Dhabi, where it can be the first to make inroads in casino gaming.
With a significant foreign population, the UAE provides MGM with significant market opportunities. “It is a large travel market… We believe Dubai Airport is one of the largest airports and will be the largest in the world,” Hornbuckle said, highlighting its potential to target a global customer base. This strategic move aims to position MGM at the forefront of the UAE’s gaming industry, securing diverse and international clients.