MGM Resorts has officially applied for a casino license in the UAE, positioning itself as the first operator to do so, though it may not be the only one vying for the opportunity. CEO Bill Hornbuckle announced this development during his remarks at a recent global forum, emphasizing MGM’s intent to expand into the UAE, despite not yet having any operational hotels in the region.
– Hornbuckle confirmed that the application has been submitted specifically for Abu Dhabi, explaining that the federal government there will ultimately decide on the approval. He expressed optimism about winning the license and clarified that each emirate has the authority to accept or reject proposals.
– The UAE’s gaming regulatory authority began accepting applications for gaming licenses recently, outlining a structured process that includes preliminary screening before applicants can formally apply for a casino license.
– MGM currently has no active projects in Abu Dhabi, which is the capital of the UAE. In the past, the company attempted to launch a non-gaming project in the area, but plans fell through. Meanwhile, MGM is working on a separate non-gaming venture in Dubai.
– Hornbuckle stated that MGM would not pursue further developments in Abu Dhabi without securing a casino license, as that aligns with the core business model of MGM Resorts.
– Wynn Resorts is another significant contender in the UAE’s emerging gaming market. Unlike MGM, Wynn is further along with its projects in the region, including a planned $3.9 billion resort opening in Ras Al Khaimah, one of the UAE’s emirates alongside Dubai and Abu Dhabi.
– While Wynn aims to include a casino in its resort, it has yet to publicly announce whether it has commenced the process of obtaining a gaming license. They are currently reviewing the information provided by the regulatory authority.
– Hornbuckle acknowledged the hurdles that MGM faces in navigating the cultural landscape of gaming in the region, but remains hopeful for future developments in Abu Dhabi. He noted that while Wynn is already breaking ground on its project, MGM is eager to participate in this new market as it unfolds.
