MGM Resorts International (NYSE: MGM) CEO Bill Hornbuckle expressed surprise that regulators in the United Arab Emirates (UAE) have yet to issue a second casino license — a delay that’s holding up MGM’s plans to bring gaming to its $2.5 billion luxury resort in Dubai.
The under-construction property, located on a man-made island, will showcase designs inspired by MGM’s flagship Las Vegas Strip venues — the Aria, Bellagio, and MGM Grand. It’s expected to open in 2028, but its casino component remains on hold pending regulatory approval.
“I thought by now Abu Dhabi would have ruled on what they were doing,” Hornbuckle said at a recent industry conference. “There’s a lot of dialogue around that.”
So far, the UAE’s General Commercial Gaming Regulatory Authority (GCGRA) — led by former MGM CEO Jim Murren — has only granted one gaming license, to Wynn Resorts (NASDAQ: WYNN) for its Wynn Al Marjan Island project.
MGM Eyes Dubai Casino Future
MGM has made no secret of its desire to enter the UAE gaming market. The company has already set aside 150,000 square feet within its Dubai resort for potential casino use once the green light is given.
Speaking at the 2023 Global Gaming Expo (G2E), Hornbuckle called the Emirates “a fascinating region” and said MGM is ready to act the moment approval arrives.
“We don’t have permission yet from the ruler of Dubai to go forward,” he said, as quoted by Arabian Gulf Business Insight. “But I believe that if this gets a casino — and I think it will over time — it’s a massive opportunity.”
UAE Casino Market Poised for Growth
For now, Wynn Al Marjan Island, expected to open in 2027, appears set to enjoy a multi-year head start as the UAE’s only casino. However, competition is expected to heat up once regulators begin issuing more licenses.
Analysts believe the UAE could eventually become the world’s fourth-largest casino market by gross gaming revenue (GGR), trailing only Macau, Las Vegas, and Singapore — though that projection likely depends on the development of at least three or four integrated resorts.
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