THE EVOLUTION OF THE UAE'S
CASINO INDUSTRY

PREPARED BY MELVIN LAGERROS

The United Arab Emirates is internationally recognized for its luxurious and thriving tourism industry, catering to both business and leisure travelers. The UAE is renowned for its commitment to providing exceptional experiences, constantly pushing the boundaries of luxury and entertainment. Although strict regulations against gambling have long been in place, the casino industry in the region is now undergoing a fascinating transformation, causing a noticeable shift in attitudes. This is a story that delves into the captivating evolution of the UAE's casino sector, tracing its path of growth, evaluating its current status and envisioning its future potential.

The announcement of Ras Al Khaimah's plans to establish a casino in a country where gambling is prohibited has generated considerable interest.

Under the existing federal laws in the UAE, individuals engaged in gambling activities may face a maximum prison sentence of two years, along with a fine of up to 50,000 Dirhams. Historically, those seeking access to casinos in the Middle East and North Africa region had to travel to Egypt or Lebanon. However, with the imminent launch of Wynn Al Marjan Island and the gradual clarification of its gaming regulations, other emirates will closely observe its reception among the local community and tourists.

With the increasing popularity of online gambling, there is also a growing demand for land based casinos that offer a unique and immersive experience. The upcoming Wynn Resorts casino in RAK aims to meet this demand by providing a modern facility with various gaming options and entertainment activities. Situated on the highly desired Al Marjan Island, the casino is strategically positioned to attract visitors. The establishment will feature an expansive gaming floor spanning an impressive 18,500 square meters, positioning it among the top ten largest casinos globally. In addition to the impressive gaming offerings, it will house a luxurious hotel, providing lavish rooms and retreat for relaxation. Guests will also have access to a diverse range of entertainment options, including live music performances.

As the casino industry continues to grow, more people will be interested in visiting places like Ras Al Khaimah. The potential of making the UAE a gambling hotspot is exciting and while the transformation of RAK into a Middle Eastern counterpart of Las Vegas or Macau may seem unlikely today, the approval of this casino venture signals the emirates willingness to explore unconventional avenues. Adding gambling to the existing mix will make UAE even more appealing and attract a new group of visitors.

In a survey conducted, an overwhelming 48 percent of respondents expressed a higher inclination towards acquiring a residence in Dubai if a casino were to be established in the city. Additionally, a significant 45 percent anticipate the emergence of a casino elsewhere in the UAE as early as 2024. When considering potential locations for a casino, a majority of 59 percent of those surveyed believe that the capital city, Abu Dhabi is likely to be the next in line. Similarly, 58 percent of respondents have confidence in Dubai's capability to open a casino.

RAK's decicion to open the first UAE casino can be interpreted as a strategic move to divert attention not only from Dubai and Abu Dhabi but also from competitors like Saudi Arabia and Qatar. If it proves to be successful, it is likely to inspire both foreign investors and local authorities in other emirates to follow and could lead to more similar projects in the area and other cities in the UAE. RAK's daring gamble has the potential to cause significant effects across the region, opening doors to exciting developments and opportunities.