MGM Resorts Applies for UAE Casino Licence
MGM Resorts has applied for a casino licence in the United Arab Emirates (UAE), becoming the second major gaming company to make a move into this market.
Bill Hornbuckle, the chief executive of MGM Resorts, announced the application during a keynote speech at the Skift Global Forum in New York on 19 September. He said the company filed its application in Abu Dhabi to become another land-based option among other online casinos in UAE.
“The way it will work, the federal government, the Abu Dhabi government, will approve it,” Hornbuckle explained. “We’ve applied for something there and hopefully will win something there. Then each ruler will have their say. It’s like a state, where each state says yes or no.”
He added, “I hope and believe we’ll hear more from Abu Dhabi later this year about the federal mandate and federal oversight.”
MGM’s Longstanding Ties with the UAE
Hornbuckle highlighted MGM’s history in the region. “We actually have a long history with the region,” he told Skift’s senior hospitality editor, Sean O’Neill. “We worked with a group called Dubai World, which was partnered with us in CityCenter, so we know the region and we know a lot of the players.”
In 2007, Dubai World and MGM Resorts formed a 50-50 joint venture to build CityCenter on the Las Vegas Strip. This development includes the Aria Casino Resort, the Vdara hotel, and the residential Veer Towers.
In 2021, MGM paid $2.1 billion to buy Dubai World’s stake in the joint venture. Later that year, it sold the Aria and Vdara real estate to Blackstone in a $3.89 billion deal.
New Developments in Dubai
MGM Resorts is also developing a property in Dubai. In 2017, it partnered with Hospitality and Leisure to advise on a luxury resort on Jumeirah Beach. This project will feature the MGM, Bellagio, and Aria brands and will include 1,500 hotel rooms.
“It has several podiums in it which, if Dubai wants gaming, could accommodate that,” Hornbuckle said at the Skift conference. However, he noted that “Dubai has not opined on [gaming] yet.” He remains hopeful about future developments: “I hope and believe we’ll hear more from Abu Dhabi later this year about the federal mandate and federal oversight, and we’ll go from there.”
Earlier this year, speaking to iGB at ICE London, Hornbuckle mentioned that while MGM has had a presence in Dubai since 2015, the company is interested in developing a gaming resort in Abu Dhabi. “As the capital, it feels as if it might go first,” he said.
A Global Audience in the UAE
Hornbuckle pointed out that gaming will remain off-limits for Emirati citizens. However, expatriates make up between 80% and 90% of the UAE’s population. “It’s a huge travel market,” he said. “Dubai airport is one of the largest airports, and I think it will be the biggest in the world.”
The UAE attracts many tourists from India, other Middle Eastern countries, and China. “We’re excited by what it presents, and we hope to be there,” Hornbuckle added.
Wynn Resorts Awaits Licence in Ras Al-Khaimah
While MGM moves forward with its plans, Wynn Resorts is also awaiting an Arabic online casino licence for its property in Ras Al-Khaimah, which is already under construction. The General Commercial Gaming Regulatory Authority (GCGRA) has not yet issued a casino licence to Wynn Resorts, although the board has visited the Wynn Al Marjan Island project. The resort is scheduled to open in 2027.
So far, the GCGRA has only issued a licence to operate the UAE Lottery to a company called The Game LLC, disappointing established local lottery operators like Emirates Draw and Mahzooz.
In August, following Wynn Resorts’ second-quarter results for 2024, CEO Craig Billings said, “I assume that they will be moving forward to the next step in our licensure. I don’t have a specific timeline for you, but you can see all the momentum that’s happening there.”
