MGM Resorts has formally utilized for a on line casino license within the United Arab Emirates, making it the primary identified operator to take such a step on this burgeoning market. This announcement got here immediately from MGM’s CEO, Invoice Hornbuckle, in the course of the Skift World Discussion board 2024, highlighting the corporate’s strategic transfer to broaden its world footprint into the Center East.
Strategic utility in Abu Dhabi:
In accordance with Hornbuckle, MGM has focused Abu Dhabi for its on line casino license utility, an space ripe for such an funding. “Sure we have now [applied]. We’ve achieved it in Abu Dhabi,” he said, as reported by Skift. The CEO elaborated on the method, noting that “the federal authorities in Abu Dhabi will approve it, we’ve utilized for it and hopefully we’ll win the license there. Every ruler has their metropolis, their state. Every can say sure or no.”
The Basic Industrial Gaming Regulatory Authority (GCGRA) of the UAE started accepting proposals for gaming licenses in July, a major transfer that MGM was fast to have interaction with. The applying course of features a preliminary consumption and screening, adopted by the chance to use for a on line casino license. Notably, MGM’s push into the UAE doesn’t but embody any operating resorts within the area, emphasizing the on line casino initiative as its main focus.
“I hope and consider this yr we’ll perceive extra about Abu Dhabi and the federal mandate and go from there,” Hornbuckle expressed, indicating a hopeful outlook towards acquiring the required approval to begin operations. Regardless of earlier setbacks in non-gaming tasks in Abu Dhabi, MGM’s renewed focus is firmly on securing a on line casino license, aligning with its core enterprise pursuits.
Aggressive panorama and Wynn Resorts’ place:
Whereas MGM is making headlines with its license utility, Wynn Resorts can also be deeply invested within the UAE, with a $3.9 billion resort already beneath development in Ras Al Khaimah. Wynn has commenced bodily improvement however has not but confirmed its licensing standing, including an attention-grabbing dynamic to the competitors.
MGM’s ties to the UAE aren’t new, given previous collaborations with Dubai World in joint ventures such because the CityCenter undertaking in Las Vegas. Wanting ahead, MGM plans to proceed leveraging these relationships to boost its presence within the UAE, notably in Abu Dhabi, which Hornbuckle notes might be the primary to maneuver ahead with on line casino gaming.
With a major expatriate inhabitants, the UAE presents a considerable market alternative for MGM. Hornbuckle highlighted the potential of tapping into a worldwide viewers, noting, “It’s an enormous journey market… Dubai airport is without doubt one of the largest airports, and I believe it is going to be the largest on the earth.” This strategic transfer goals to place MGM on the forefront of the UAE’s gaming trade, capturing a various and worldwide clientele.
