Wynn Expect Casino License Shortly for UAE Resort

Wynn Resorts who are building a resort in the United Arab Emirates at the Al Marjan island of Ras Al Khaimah, believe that they will receive a gaming license soon to become the first ever casino resort in the region.

Ground has already been broken on building the resort and Chief Executive Officer Craig Billings said while on an earnings call that while there is no definite clarity on the UAE legalising gambling for the entire country the region they are building will have legislation in place to do so.

The resort that will cost the company nearly $4 billion once complete and is close to Dubai seems to be heading for an historic gambling license as Billings said, “There should be no concern that there is a broader legalization process that needs to occur in order for gaming to occur in that property,” he went on to say. “While there may be conversation in other emirates about legalization or legalization at the federal level, thereby covering all emirates, I expect that we will have our license for Ras Al Khaimah actually imminently.”

Billings said that the UAE is “the most exciting new gaming market in decades,” the CEO said that Wynn has a 40% stake in the development but should see a very healthy return on that investment once operational.