(Reuters) – Wynn Resorts, a renowned hotel and casino operator, announced on Friday that it has been granted the first commercial gaming operator’s license in the United Arab Emirates by the country’s General Commercial Gaming Regulatory Authority.
The Las Vegas-based company revealed that it is currently working on the development of a luxurious resort at Wynn Al Marjan Island in Ras Al Khaimah.
This project, which is currently under construction, is a collaborative effort between affiliates of Wynn Resorts, Marjan, and RAK Hospitality Holding.
Neither Ras Al Khaimah’s government communications office, RAKTDA, nor RAK Hospitality Holding responded immediately to requests for comment from Reuters.
Last month, the UAE established a federal entity to oversee gambling activities and appointed industry veterans from the U.S. to lead it, putting an end to years of speculation about the country’s stance on gambling – a practice that is illegal in the conservative Gulf region.
These recent developments allowing gambling come amidst heightened economic competition in the Gulf, particularly with Saudi Arabia. The UAE also implemented a series of progressive legal reforms last month as it strives to maintain its position as the region’s primary trade, tourism, and financial center.