Wynn Resorts Awarded First Gaming License in UAE

(Reuters) – Hotel and casino operator Wynn Resorts (NASDAQ:WYNN) announced on Friday that it has received the first commercial gaming operator’s license in the United Arab Emirates from the country’s General Commercial Gaming Regulatory Authority.

The Las Vegas-based casino firm is developing a luxury resort at Wynn Al Marjan Island in Ras Al Khaimah.

The project, currently under construction, is a joint venture between affiliates of Wynn Resorts, Marjan, and RAK Hospitality Holding.

RAK’s government communications office, RAKTDA, and RAK Hospitality Holding did not respond immediately to Reuters’ requests for comments.

Last month, the UAE established a federal entity to regulate gambling and appointed veterans from the U.S. industry for leadership roles, thereby ending years of speculation regarding the legalization of gambling, which has been illegal across the conservative Gulf region.

These moves occur amid increasing economic competition in the Gulf, particularly with Saudi Arabia. The UAE has introduced several liberal legal reforms as it seeks to maintain its position as the region’s primary trade, tourism, and financial hub.