{"id":3945,"date":"2024-11-22T20:36:10","date_gmt":"2024-11-22T21:36:10","guid":{"rendered":"http:\/\/restaurace-pohoda.eu\/?p=3945"},"modified":"2024-12-12T13:35:03","modified_gmt":"2024-12-12T13:35:03","slug":"wynn-could-have-lengthy-uae-casino-monopoly","status":"publish","type":"post","link":"http:\/\/restaurace-pohoda.eu\/index.php\/2024\/11\/22\/wynn-could-have-lengthy-uae-casino-monopoly\/","title":{"rendered":"Wynn Could Have Lengthy UAE Casino Monopoly"},"content":{"rendered":"

Wynn Resorts\u2019 Wynn Al Marjan Island integrated resort in the United Arab Emirates (UAE) is expected to open in early 2027, perhaps several months sooner, and when it does, the casino hotel will enjoy a potentially length monopoly in the emirates.<\/p>\n

\"Murren
General Commercial Gaming Regulatory Authority (GCGRA) Chairman Jim Murren. He said it will be awhile before the UAE adds more casinos. (Image: Bloomberg<\/em>)<\/figcaption><\/figure>\n

The reason for that advantage is because the General Commercial Gaming Regulatory Authority (GCGRA) \u2014 the UAE\u2019s first gaming regulator \u2014 isn\u2019t rushing the approval of additional casino licenses over the near-term.<\/p>\n

\n

The process is moving very deliberately here. The government has been very clear it wants a state-of-the-art, very compliant, very rigorous regulatory regime. Nothing we\u2019re doing will rush that,\u201d said GCGRA Chairman Jim Murren at the Skift Global Forum East 2024<\/a> earlier this week.<\/p>\n<\/blockquote>\n

The GCGRA was formed in September 2023<\/a>. It\u2019s been about less than two months since the regulatory body approved a gaming license for Wynn Al Marjan Island, which is located in the emirate of Ras Al Khaimah<\/a>, marking the first such approval in the history of the Arab world.<\/p>\n

Pragmatic Approach in UAE Could Benefit Wynn<\/h2>\n

At the conference, Murren emphasized that a pragmatic approach to issuance of casino licenses is \u201cincredibly important\u201d to the UAE government, adding that the GCGRA is focused on the operators to which it\u2019s granted permits.<\/p>\n

\n

That\u2019s Wynn and a lottery operator in Abh Dhabi, indicating that while Wynn won\u2019t have a permanent monopoly in the emirates, it will enjoy a significant head start over any competitors looking to enter the market. Those include MGM Resorts International, the company Murren previously led.<\/p>\n<\/div>\n

\u201cWe\u2019ll see other integrated resorts in the UAE over the next five to 10 years, but Wynn has the head start,\u201d said Murren.<\/strong><\/p>\n

He didn\u2019t get into specifics, but it appears will Wynn\u2019s UAE monopoly will span at least several years.<\/p>\n

Earlier this year, MGM confirmed it would like to pursue a UAE gaming license and that there is space for a casino set aside at its hotel in Dubai<\/a>, which is currently structured as a non-gaming venue. Owing to its status as the region\u2019s prime tourist destination and the vast petroleum wealth possessed by some locals, the UAE is compelling market for gaming operators, implying new licenses are worth waiting several years for.<\/p>\n

Long-Term UAE Casino Outlook<\/h2>\n

Though he drew comparisons between the UAE today and Las Vegas 30 years ago, Murren didn\u2019t get into the exact amount of gaming venues that could eventually call the emirates the home. What is clear is that the number will never be comparable to that of Las Vegas or Macau and that analysts and executives largely view UAE as a four casino market, including Wynn Al Marjan Island.<\/p>\n

Four integrated resorts could be enough to make the emirates a $3 billion to $5 billion<\/a> market in terms of annual gross gaming revenue (GGR) and potentially rank it fourth in the world behind only Macau, Nevada, and Singapore.<\/p>\n

Some analysts estimate UAE\u2019s total addressable gaming market could be as high as $8.5 billion, but that figure implies going beyond four casino resorts and more liberalized views toward gaming in the countries closest to the emirates.<\/strong><\/p>\n

The post Wynn Could Have Lengthy UAE Casino Monopoly<\/a> appeared first on Casino.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wynn Resorts\u2019 Wynn Al Marjan Island integrated resort in the United Arab Emirates (UAE) is expected to open in early 2027, perhaps several months sooner, and when it does, the casino hotel will enjoy a potentially length monopoly in the emirates. General Commercial Gaming Regulatory Authority (GCGRA) Chairman Jim Murren. He said it will be…<\/p>\n","protected":false},"author":1,"featured_media":3947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[],"_links":{"self":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/3945"}],"collection":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/comments?post=3945"}],"version-history":[{"count":2,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/3945\/revisions"}],"predecessor-version":[{"id":3948,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/posts\/3945\/revisions\/3948"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/media\/3947"}],"wp:attachment":[{"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/media?parent=3945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/categories?post=3945"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/restaurace-pohoda.eu\/index.php\/wp-json\/wp\/v2\/tags?post=3945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}