In a bold move towards potential casino development, MGM Resorts, a renowned global leader in gaming and entertainment, is eyeing Abu Dhabi as a prime location. With aspirations to secure a casino gaming license in either Dubai or Abu Dhabi, the company awaits governmental action to pass a gambling decree, paving the way for groundbreaking ventures in the United Arab Emirates (UAE).
MGM is engaged in significant Dubai development hosting three hotel brands – MGM, Bellagio, and Aria. Hornbuckle the CEO of MGM hinted at potential ventures in Abu Dhabi, contingent upon emirate preferences for gaming-led projects. Dubai’s MGM project reserves 150,000 square feet for potential gaming use.
MGM Dubai will launch three MGM Resorts-owned hotel brands; MGM, Bellagio and Aria with a 150,000-square foot space set aside for a gaming floor if the casino opportunity arises.
Strategic Insights from CEO Bill Hornbuckle
Hornbuckle predicts UAE’s gaming evolution starting with lottery and digital gaming, possibly granting the first casino license in Abu Dhabi. MGM awaits approval from emirate leaders for gaming ventures in Abu Dhabi or Dubai. Updates are expected within months, as the GCGRA actively participates.
MGM identifies potential development partners, anticipating swift decisions post-summer. Meanwhile, MGM keeps an eye on opportunities in New York and Thailand, emphasizing regulatory compliance and government cooperation.
MGM Resorts Expecting Governmental Decree
MGM’s outlook hinges on a forthcoming governmental decree following its acquisition of a 150,000-square-foot space in Dubai for hotel and casino resorts. Notably, significant strides have been made in collaboration with the legislature, with MGM anticipating a clear direction for its Middle East strategy in the near term.
Additionally, the company’s partnership with the General Commercial Gaming Regulatory Authority underscores its commitment to establishing robust regulatory frameworks for commercial gaming in the Emirates, with progress set to intensify after the conclusion of Ramadan festivities.
MGM Resorts International’s CEO has confirmed that their $2.5 billion Dubai project won’t include a casino. Instead, Abu Dhabi, possibly on Yas Island, is being considered. While Dubai’s project progresses, future gaming integration isn’t ruled out. Ras Al Khaimah’s Wynn Al Marjan Island Resort will feature a casino, contrasting MGM’s approach.
UAE Government's Role in Selecting MGM’s Development Partner
MGM awaits the government’s decision on its development partner. Already in collaboration with Wasl Asset Management Group for its Dubai project, MGM gains insights into local dynamics. Hornbuckle mentioned, “We’ve been on the ground for over a year-and-a-half and believe we know who the partner is.” The government will appoint the partner after seeking proposals.
According to IAG, MGM anticipates partner selection by summer 2024. Regulatory adjustments are expected to swiftly follow, facilitating rapid project progression.
Final Consensus
Wynn Resorts appears to be moving forward more. Approximately one hour from Dubai, near Ras Al Khaimah, the $3.9 billion Wynn Al Marjan Island, complete with a verified casino, is scheduled to open in 2027.
Hornbuckle is currently keeping an eye on each emirate’s prospective casino ambitions. During the call, he stated: “We hope to be positioned either for Dubai or Abu Dhabi, but time will tell. If and when both Abu Dhabi itself as the general license granter for all or any of the emirates goes, and then ultimately, one by one, the emirates say they would like it.
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