UAE to become the new location for international casinos: Reports

Reports claim that the UAE is prepping up to be the new location for international casinos as it seeks foreign investment.

Reports claim that the UAE is prepping up to be the new location for international casinos as it seeks foreign investment.

The UAE is looking at this option after the announcement made by Saudi Arabia that firms must move their head offices to the Kingdom by 2024 if they want to enjoy the investment opportunities of the Saudi government.

Advertisement

The UAE will now be moving quickly to maintain its position as a leader in foreign investments, in which Dubai has been excelling for decades. On the other hand, Abu Dhabi concentrates on amusement parks as an investment solution.

As major casino operators are turning towards new countries in search of a potential market, the UAE could cash in, not least as the saturation of the US market and Macau’s inability to expose itself to new concessions.

There are not many Arab countries which are allowed to have casinos. Lebanon will enable its residents and foreigners alike to go inside their casinos, whereas Egypt restricts them, all gambling to foreigners only, as followed by Tunisia. Morocco allows all types of gambling.

Thus, the UAE has an opportunity to be the next in the large market. This year, Ras Al-Khaimah, one of the smallest of its seven emirates, declared a deal with Wynn Resorts in Las Vegas to construct an integrated resort on Al-Marjan Island, a small, artificial archipelago similar to the famous Palm Jumeirah on the coast of Dubai.

Wynn Resorts partake in this project with the local Marjan Group Holding, which holds and functions as a chain of hotels and leisure assets.

This is not the first time that a significant casino operator like Wynn has entered into the Gulf emirates, where theoretically, gambling is still illegal.

Advertisement

This time the different thing is that it explicitly involves plans to make a “play zone.” The word “play” here is vague; it could mean a casino with roulette and blackjack tables or something more innocent, like sports. Such word games during planning proposals are not random, as conservative nations do not want to enrage their citizens.

Tariq Saeed

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Read More

Egypt’s export to Brazil increased by 155.4%

Cairo, Egypt: The Minister of Trade and Industry Nevine Gamea noted that the country's exports to Brazil had witnessed a significant rise of 155.4%...

Egypt: NMEC hosts delegation from China and Malaysia

The National Museum of Egyptian Civilization (NMEC) in Fustat has recently welcomed Mr Li Qun, the head of the Chinese National Archaeology Authority and the deputy minister of culture and tourism of China

UAE Floods: MBRGI starts distributing 10,000 ration cards, 50,000 food parcels to affected people

The Mohammed bin Rashid Al Maktoum Global Initiatives, a charity organisation in the UAE, has begun distributing 50,000 food parcels and 10,000 ration cards to those people who were affected due to flash floods which hit the nation last week.

Recent

Saudi Arabia to commence commercial flights from Neom Bay to Dubai in June

Saudia Airlines is all set to launch its first commercial flights from Neom Bay Airport to Dubai in June. The weekly round-trip flight will be operated through aircraft sporting special Neom-Saudia livery to showcase the megacity to the world.

St Kitts and Nevis: PM Terrance Drew extends remarks at Pre-Labour-Day meeting at St Peters

Dr Terrance Drew – Prime Minister of St Kitts and Nevis, participated in the Pre-Labour-Day Meeting held in St Peters

Indian men to start their seven-nation journey on Chetak from UAE

Ibrahim Bilal, aged 21 and Mohammed Afsal Haq, aged 22, known as 'AB Tech Vibe', from India, are on their seven-nation journey on a...
admin