A Historic Milestone

For the first time in the UAE, adults aged 18 and over can legally gamble through a regulated system. Tickets for the Lucky Day draw are priced at AED 50 (£10.80/€12.90/$13.60), with a staggering AED 100 million jackpot awaiting one lucky winner. Additionally, seven guaranteed AED 100,000 prizes will be awarded to other participants.

Complementing the main draw, scratchcards priced between AED 5 and AED 50 are also available, offering prizes from AED 50,000 to AED 1 million. All tickets can be purchased exclusively online at www.theuaelottery.ae by residents physically located in the UAE.

The Game and Momentum

The UAE Lottery is operated by The Game, a subsidiary of Abu Dhabi-based Momentum, which secured the license from the General Commercial Gaming Regulatory Authority (GCGRA) in July. Beating established operators like Emirates Draw and Mahzooz, The Game is now the sole entity running the UAE’s national lottery.

Momentum appointed Bishop Woosley, former director of the Arkansas Scholarship Lottery, as director of UAE Lottery operations. Woosley emphasized the lottery’s mission to “inspire residents to dream big” while maintaining a commitment to responsible play and global standards.

How It Works

The Lucky Day lottery employs a unique format where participants select seven numbers: six from a range of 1 to 31 representing “lucky days” and one from 1 to 12 representing the “lucky month.” Bi-weekly live draws will be held every Saturday at 8:30 PM local time, beginning with the inaugural event in December.

Tickets not only provide entry to the main jackpot but also automatically include participants in the Lucky Chance draws. Winners will be notified via their registered accounts, and results will be posted on the official website.

Global Expertise

The UAE Lottery is powered by Smartplay International, a renowned lottery technology provider with expertise in managing some of the world’s largest lotteries. Its involvement ensures fairness and transparency in draw mechanics and winner selection, as affirmed by the GCGRA.

Expanding Entertainment Horizons

The launch of the UAE Lottery is part of a broader shift in the Emirates toward regulated gaming. It coincides with the ongoing development of the Wynn Al-Marjan Island resort in Ras Al-Khaimah, which will feature the UAE’s first casino upon its completion in 2027. Some speculate that the first ever UAE online casino may be launched during the same year as well.

While other global operators, including MGM Resorts, have expressed interest in entering the UAE market, GCGRA Chair Jim Murren emphasized that further licenses would only be issued over the next five to ten years, ensuring a measured approach to the sector’s growth.

A Dream Come True

The UAE Lottery marks a transformative moment for the country’s entertainment landscape, giving residents the chance to participate in life-changing games under strict regulatory oversight. With anticipation building for the December 14 draw, excitement is palpable as the nation takes its first steps into regulated gaming.

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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.”

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ABU DHABI: The United Arab Emirates (UAE) has taken a significant step towards legalising gambling by awarding its first lottery licence, hinting at the possibility of future casinos and other gaming activities in the country. The UAE’s general commercial gaming regulatory authority announced that The Game LLC will operate the UAE Lottery. This company, based in Abu Dhabi, specializes in game development, lottery operations, and gaming content.

Jim Murren, chairman of the General Commercial Gaming Regulatory Authority (GCGRA), described the lottery licence as a pivotal event. He emphasized that this move marks the establishment of a well-regulated framework for lottery activities and highlights the UAE’s commitment to creating a secure commercial gaming environment.

Economic Impact and Regulatory Changes

Legalising gambling could bring substantial economic benefits to the UAE, attracting more tourists and investments, particularly from China. Bloomberg Intelligence estimates that the gaming industry could contribute as much as 1.3% of the UAE’s GDP, which equates to about $6.6 billion annually, surpassing Singapore’s gaming revenue. Over the past year, the UAE created the GCGRA to regulate gaming activities, shortly after Wynn Resorts announced plans to build a $3.9 billion gaming resort in Ras al Khaimah, indicating an expectation to receive a gaming licence soon.

The GCGRA has made it possible for companies to apply for gaming licences in all seven emirates. Abu Dhabi and Ras Al Khaimah are emerging as frontrunners to introduce online casinos in UAE, ahead of Dubai, which has currently paused its gambling plans. On Sunday, regulators not only approved the first lottery licence but also made public the rules for casino and gambling licences, moving the UAE closer to becoming the first Gulf state to legalize gaming.

Details of Gaming Regulation

The GCGRA’s website explains that commercial gaming includes any game of chance or skill involving money bets to win money or valuable items. The authority will regulate lotteries, internet gaming, sports betting, and land-based gaming. So far, only one licence has been approved. The lottery licence was awarded to The Game LLC, which operates under the UAE Lottery banner. This makes The Game LLC the first company legally allowed to offer gaming services in the UAE, affecting other lottery operators like Mahzooz and Big Ticket.

The licensing framework is now active, meaning casinos could open in the future. Wynn Al Marjan Island is expected to be the first to receive a gaming licence, with its opening planned for 2027. Other potential casino locations include mega-resorts like Atlantis Dubai and the upcoming MGM Dubai. Analysts believe that casinos in the UAE could generate up to $8.5 billion in revenue. CBRE director John Decree noted the UAE’s strong tourism industry, luxury spending habits, business-friendly environment, and lack of regional gaming competition as significant advantages.

Player Regulations and Responsible Gaming

The GCGRA has set clear rules for players to ensure responsible gaming. Players must only play with licensed operators, avoid unlicensed operators to evade legal penalties, stay informed about the games, odds, and risks, manage their time and money carefully using available tools, and utilize support services if needed. Players should also consider self-exclusion programs for breaks from gaming.

The GCGRA aims to promote sustainable growth through integrity, innovation, and responsible practices. Engaging in gaming without a licence from the GCGRA is illegal and can result in severe penalties. The UAE is poised to create a controlled and safe gaming environment, opening the door to a new era of entertainment and economic growth in the region.

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Many believe Marjan Island in the United Arab Emirates (UAE) might become a major gambling area like Las Vegas or Macau. This is surprising because gambling is banned under Islamic law and is still illegal in the UAE. Currently, no casinos exist in the six Gulf Cooperation Council countries: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. However, casinos operate in Lebanon and Egypt.

Efforts and Developments in the UAE

Plans to build casinos in the UAE have gained a lot of attention recently. The potential economic benefits and new rules to regulate gambling drive this interest. Ras Al Khaimah and Abu Dhabi are leading these efforts. Abu Dhabi is looking at possible sites for casinos, with Yas Island being a top choice due to its existing entertainment facilities. Dubai, despite being a major tourist spot, is not planning to build casinos, focusing on its current attractions. Residents in Dubai will still be able to access UAE casinos online should they wish.

At least 20 developers are working on projects in various stages of design and construction on Marjan Island in Ras Al Khaimah. The small international airport in Ras Al Khaimah will expand with a new terminal to handle 2 million passengers a year by 2027. Luxury hotel capacity, already over 200,000 rooms, will grow in the coming years.

Regulatory Developments and Economic Impact

Last year, the UAE created the General Commercial Gaming Regulatory Authority (GCGRA) to oversee potential legalization and regulation of gambling activities. This new federal body, led by industry experts Jim Murren and Kevin Mullally, aims to create a well-regulated gaming environment with high standards and strict guidelines. The formation of GCGRA is a key step towards legalizing gambling through federal laws or changes to the criminal code.

Experts predict that the UAE could earn a lot of money from legalized gambling. Bloomberg Intelligence estimated that the country could make up to $6.6 billion each year, more than Singapore’s annual gaming revenue. CBRE analyst John DeCree believes that developing integrated resorts and Arabic casinos in the UAE is one of the best global gaming opportunities today.

Positive Outlook for Wynn Resorts

Wynn Resorts has already started building a $3.9 billion integrated resort on Al Marjan Island in Ras Al Khaimah. It is set to open in 2027. CBRE believes Wynn Al Marjan Island will generate strong returns and high property margins. The mix of non-gaming activities may surpass Macau and even Singapore. DeCree and his team are very positive about Wynn Resorts’ prospects. CBRE predicts that the Wynn property will generate gross gaming revenue of $1.38 billion, net revenue of $1.8 billion, and property earnings of $921 million. While many expect property margins to be around 30%, CBRE thinks that a friendly regulatory environment, low gaming tax rates, and little competition could help Wynn achieve margins as high as 50%.

In the future, companies like Las Vegas Sands, Caesars Entertainment, Genting Group, Hard Rock International, Galaxy Entertainment, Melco Resorts, and MGM Resorts International might become developers in the UAE if gaming is approved. Hotel chains like Hilton Worldwide, Marriott International, and Hyatt Hotels could also benefit from an increase in tourism.

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This fund, run by experienced professionals in gaming and finance, will invest in “high-growth” gambling companies from the seed stage to Series A. Over the next five years, it plans to launch more than 25 startups in online gaming, Web3, crypto, and blockchain sectors.

The fund is especially focused on opportunities in the soon-to-be-regulated UAE market. Ixia Capital’s CEO, Mona Motwani, told iGB that while the exact regulations are still unknown, the region looks very promising, and operators are preparing for a bright future in UAE gambling.

In September, the UAE established the General Commercial Gaming Regulatory Authority (GCGRA) to create a framework for a national lottery and commercial gaming in the region. Motwani believes the legal casino market in the UAE will be significant.

Although Ixia Capital is a global fund, its initial focus will be on the UAE, India, and Africa, where the team has core expertise.

Experienced Team in Gaming and Finance

Mona Motwani, who spent seven years at Sportradar managing government relations in the Indian subcontinent, leads the team. Other partners include Tyler Dean, Imran Bukhari, and Biren Gala.

Tyler Dean has extensive experience in VC funds, managing and advising on various funds in the US. Imran Bukhari, with a background in tech development, has worked as a software consultant for Bet365 and runs NE Group, providing igaming solutions in Africa. Biren Gala has ten years of private equity experience with Mayfair Equity Advisory in the UK.

Fund’s Investment Goals

Ixia Capital’s US-based venture studio, Ixia Studio, has already made several investments. These include FasFas Games, a Sports NFT Trading Exchange, a gaming loyalty rewards platform, a sports investment thought leadership platform, and a sports coverage and engagement app. Details on these projects are still limited, but they are expected to launch soon.

Motwani mentioned that the fund is interested in both B2B and B2C startups and is excited about unique projects combining esports, gaming, Web3, crypto, and blockchain.

Near-Term Regulated Gaming in the UAE

A June report by investment firm CBRE expects regulated gaming to be introduced in the UAE soon. For now, online casinos in UAE are licensed off-shore. It is however unclear whether online casinos will be part of the potential regulation act. They predict changes in laws through a Federal Decree or adjustments to the criminal and penal codes. With increased activity and public company interest in the region, these changes are anticipated in the next few months.

CBRE also noted that a well-regulated online gaming environment could develop quickly due to the current accessibility of illegal online gaming providers in the UAE via VPNs or proxies. They expect the GCGRA will prioritize regulating this area.

Currently, Wynn Resorts is building an integrated resort in Ras Al Khaimah, expected to be completed by 2027.

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At the recent G2E Asia conference in Macau, Seaport Research senior analyst Vitaly Umansky mentioned that the Wynn project could be at risk if Dubai permits regulated gaming. Dubai is the main tourist spot among the seven emirates, whereas Ras Al Khaimah is a smaller emirate without many economic advantages.

These comments came shortly after Umansky upgraded Wynn’s stock to “buy” from “hold,” with a target price of $116, suggesting a 26% increase from the June 4 closing price.

Umansky believes the market could support two large resorts, but the key risk is a casino opening in Dubai, which is more likely than in Abu Dhabi.

He also said that Wynn could earn up to $300 million a year from the UAE resort. Last month, the Las Vegas-based company confirmed it plans to spend about $900 million on the UAE project, making it a minority partner.

Uncertainty Over Dubai’s Casino Approval

Although Dubai is an attractive market for casinos, it is not certain that regulators will allow casino gaming there.

So far, there are no gaming regulations in the UAE, even though a governing body was formed last autumn. It is expected that each emirate will decide on casinos individually, with only Abu Dhabi and Dubai being likely options besides Ras Al Khaimah.

Umansky believes there will be a political agreement among the emirates, but smaller emirates are unlikely to start casinos. To this day, it is still more popular for Emiratis to play online casinos in UAE.

If Dubai approves an integrated resort, MGM Resorts International (NYSE: MGM), which is building a non-gaming hotel there, could benefit. MGM executives have said they are prepared to add a casino if regulators permit.

MGM is developing three hotels in the UAE and might open a casino in Abu Dhabi if allowed and if Dubai does not approve casinos.

Wynn UAE: More Like Las Vegas Than Macau

Wynn’s UAE resort, expected to open in early 2027, will be very large, but the casino will take up only a small part of its 5.6 million square feet.

The resort will resemble those in Las Vegas more than those in Macau, with a focus on luxury rooms, fine dining, and entertainment, rather than gambling. This is a smart move for the UAE, where gambling is often seen as taboo in the Arab world.

Umansky pointed out that for many Arab Muslims, there is a big difference between gambling in Europe or the US and doing it nearby.

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Why Is This a Big Deal?

Well, for starters, this could redefine the entertainment and economic landscape of not just the UAE but also the broader Gulf region. Until now, gambling has been a no-go in the conservative Gulf. But things are shaking up. Amidst fierce economic competition, particularly with Saudi Arabia, the UAE isn’t just sitting back. Instead, it’s rolling the dice to maintain its clout as the Gulf’s top dog for trade, tourism, and finance. Entering the online Arabic casino scene will be a groundbreaking move in the Gulf region.

Who’s Running the Show?

The authority couldn’t be in better hands. Kevin Mullally, who previously led Missouri’s Gaming Commission and clocked 17 years at Gaming Laboratories International, has stepped in as the CEO. He’s joined by Jim Murren, former CEO of MGM Resorts, who will serve as the chairman of the board. Both bring years of expertise to ensure that the UAE creates a “fit-for-purpose” and socially responsible gaming environment.

What’s On The Cards?

The million-dollar—or should we say billion-dollar—question remains: what will the regulations look like? While we’re still a bit in the dark about the exact specifics, it seems iGaming could very much be part of the picture. Consulting firms like GLI and Eilers & Krejcik Gaming, who are assisting in the creation of the regulatory framework, have a digital footprint. Could this mean we’re looking at not just physical but also online casinos? Only time will tell.

Taxes and Revenues

Preliminary whispers suggest a 25% revenue tax on mass-market gambling and a cushier 8% for premium gaming. This could mean serious cash for the government coffers. Some even speculate that the UAE could bring in an eye-watering $6.6 billion in gaming revenue annually. That’s a lot of chips on the table!

The Wynn Connection

Let’s not forget that Wynn Resorts (WYNN) has big plans for a $3.9 billion development in Ras Al Khaimah, a venture that GCGRA will most likely oversee. CEO Craig Billings hinted that they expect their license “imminently.” This brings in another level of intrigue as to how this federal model will interact with individual emirates and their licensing plans.

Risks Involved?

The love affair with gaming does come with its headaches. The UAE has to tread cautiously, especially since it already has a bit of a rep for money laundering in the real estate sector. Safety measures will need to be robust to avoid the casinos becoming havens for dirty money.

Final Thoughts

If the UAE plays its cards right, it could not only offer a fresh playground for gambling enthusiasts but also substantially fuel its economy. However, let’s not get ahead of ourselves; there’s a long road ahead filled with legislation and regulations. But one thing’s for sure: the stakes have never been higher, and the UAE is all in!

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