How Will the Proposed Casino Resort in Dubai Affect the Local Economy?

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The United Arab Emirates didn’t officially allow any kind of gambling or betting for a long time, in line with the social and religious norms prevailing in this country. Even though one can access real money online casinos in the UAE through offshore online platforms, it was a bit muddy area. Jack Schiffko, an experienced iGaming analyst, says that such a form of gaming was also frowned upon by the local authorities, but it was feasible, especially if the players would use a VPN to establish a secure and autonomous connection with the platform in question.

Nevertheless, this situation is about to change soon, as some large new investments are coming to the Persian Gulf. 

Wynn Company, one of the largest and most profitable US casino-operating enterprises, is building the Wynn Al Marjan Resort in the Ras Al Khaimah emirate. Not far away from Dubai (about an hour’s drive), this is the umpteenth such resort in the UAE, but the first one accommodating a real brick-and-mortar casino within the territory of the UAE. The 4 billion dollar investment should be finished and launched in 2027, adding some extra value to the blooming local tourist industry. 

Dubai, Doha, and Abu Dhabi have already become recognizable landmarks on the global tourist map. Only in 2022, the assets generated from tourism made 9% of the Emirates’ GDP. As the tourist expenditure that year surpassed $32 billion and the official accommodation capacity exceeded 203,000 hotel rooms, the local authorities and businesspeople decided to push the envelope a bit further. 

The license that the local government issued to Wynn Resorts to build this resort was part of a broader package of measures, aimed at loosening up various local regulations, especially the ones related to the casino industry. A project that will place the Ras Al Khaimah emirate shoulder to shoulder with its more famous neighboring districts, the Wynn Al Marjan Resort will host an 18,500 sq m casino, larger than the Wynn Las Vegas venue. 

With approximately 1,542 villas, suites, and rooms, this will be one of the largest holiday resorts with an ensuite casino in the world. Reportedly, Wynn Resort Company has received the largest number of inquiries related to the villas built within this complex. For the time being, the demand is such that the price per villa goes up to $7 million, and this is only in the construction stage. 

If we know that this resort will contain a huge shopping promenade (15,000 sq m), and a state-of-the-art, 7,500 square-meter conference center, it’s clear that the UAE is about to get one of the most impressive multifunctional resorts of this kind worldwide. 

On top of that (literally), a 300-meter tower will decorate the beachfront side of this edifice, showcasing the splendor and grandeur of the resort and its accompanying casinos. 

In terms of the expected revenue solely from the casino operations for the local government, the gross gaming revenue tax rate will be some 10-12%. The UAE authorities have already founded the General Commercial Gaming Regulatory Authority (GCGRA), in charge of handling the legal aspect of the gambling industry in this country. The first of its kind in the Persian Gulf, this institution has stated it wants to build a socially responsible and properly regulated gaming context. 

As the UAE isn’t too large a country – 83,000 square km altogether – many tourists visiting the other seven emirates are expected to be coming to Ras Al Khaimah and its cutting-edge casino resort. Still, since gambling has been prohibited in the UAE and all the adjacent countries for a long time, the GCGRA will have a vital role in making decisions and adopting the optimal laws to respect both the local customs and the tourists’ and investors’ expectations.