(Reuters) – Hotel and casino operator Wynn Resorts said on Friday it has received the country’s first commercial gambling operator license from the United Arab Emirates’ General Commercial Gambling Regulatory Authority.
The Las Vegas-based casino company has announced that it is developing a luxury resort on Win Al Marjan Island in Ras Al Khaimah.
The project, which is under construction, is a joint venture between Wynn Resorts affiliates, Marjan and RAK Hospitality Holding, Wynn said.
Ras Al Khaimah Government Information Department, RAKTDA and RAK Hospitality Holding did not immediately respond to Reuters’ requests for comment.
The UAE last month established a federal agency to regulate gambling, hiring a US industry veteran to lead it, adding to years of speculation over whether the country will allow gambling, which is illegal throughout the conservative Gulf region. It put an end to it.
The move to allow gambling comes against the backdrop of increasing economic competition in the Gulf region, particularly with Saudi Arabia. The UAE introduced a number of liberal law reforms last month in a bid to maintain its dominance as the region’s trade, tourism and financial hub.
(Reporting by Disha Mishra in Bengaluru; Editing by William Mallard)