UAE opens door to gambling industry, US casino operator gets first license
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The United Arab Emirates has issued commercial gambling license for the first time to a US-based hotel and casino operator Wynn Resorts.
The Las Vegas-based casino firm is developing a luxury resort at Wynn Al Marjan Island in Ras Al Khaimah in affiliation with Marjan and RAK Hospitality Holding.
Ras Al Khaimah's government communications office, RAKTDA, and RAK Hospitality Holding did not immediately respond to Reuters requests for comment.
The multi-billion dollar project, which will be opened to the public in early 2027, is being built on an island of almost 62 hectares extending into the Arabian Gulf.
The UAE last month set up a federal entity to regulate gambling and hired veterans of the US industry to lead it, ending years of speculation whether the country would allow gambling - illegal across the conservative Gulf region.
The moves to allow gambling are against a backdrop of intensifying economic competition in the Gulf, especially with Saudi Arabia. The UAE last month introduced a raft of liberal legal reforms as it tries to maintain its edge as the region's trade, tourism and financial hub.