MGM Resorts has officially applied for a casino license in the United Arab Emirates, making it the first known operator to take such a step in this burgeoning market. This announcement came directly from MGM’s CEO, Bill Hornbuckle, during the Skift Global Forum 2024, highlighting the company’s strategic move to expand its global footprint into the Middle East.
Strategic application in Abu Dhabi:
According to Hornbuckle, MGM has targeted Abu Dhabi for its casino license application, an area ripe for such an investment. “Yes we have [applied]. We’ve done it in Abu Dhabi,” he stated, as reported by Skift. The CEO elaborated on the process, noting that “the federal government in Abu Dhabi will approve it, we’ve applied for it and hopefully we’ll win the license there. Each ruler has their city, their state. Each can say yes or no.”
The General Commercial Gaming Regulatory Authority (GCGRA) of the UAE began accepting proposals for gaming licenses in July, a significant move that MGM was quick to engage with. The application process includes a preliminary intake and screening, followed by the opportunity to apply for a casino license. Notably, MGM’s push into the UAE does not yet include any running hotels in the region, emphasizing the casino initiative as its primary focus.
“I hope and believe this year we’ll understand more about Abu Dhabi and the federal mandate and go from there,” Hornbuckle expressed, indicating a hopeful outlook toward obtaining the necessary approval to commence operations. Despite previous setbacks in non-gaming projects in Abu Dhabi, MGM’s renewed focus is firmly on securing a casino license, aligning with its core business interests.
Competitive landscape and Wynn Resorts’ position:
While MGM is making headlines with its license application, Wynn Resorts is also deeply invested in the UAE, with a $3.9 billion resort already under construction in Ras Al Khaimah. Wynn has commenced physical development but has not yet confirmed its licensing status, adding an interesting dynamic to the competition.
MGM’s ties to the UAE are not new, given past collaborations with Dubai World in joint ventures such as the CityCenter project in Las Vegas. Looking forward, MGM plans to continue leveraging these relationships to enhance its presence in the UAE, particularly in Abu Dhabi, which Hornbuckle notes could be the first to move forward with casino gaming.
With a significant expatriate population, the UAE presents a substantial market opportunity for MGM. Hornbuckle highlighted the potential of tapping into a global audience, noting, “It’s a huge travel market… Dubai airport is one of the largest airports, and I think it will be the biggest in the world.” This strategic move aims to position MGM at the forefront of the UAE’s gaming industry, capturing a diverse and international clientele.
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