Wynn Expects To Have A Monopoly On UAE Casinos
Photo Credit: A rendering of Wynn Al Marjan Island Wynn Resorts
Skift Take
Caesars is leaving and MGM has only managed to get pylons in the ground in six years. That leaves Wynn Resorts.
Wynn Resorts thinks it will be the sole operator to have a casino in the United Arab Emirates for several years, effectively giving it a monopoly on a market that could rake in billions for the Gulf nation.
"It will likely be us and us alone for a multiyear period," said the group's CEO Craig Billings in an earnings call. "After that, it may be a duopoly or an oligopoly of three."
The Wynn Al Marjan Island is expected to open in Ras Al Khaimah – an emirate with a population of around 450,000 – in 2027. It is projected to cost upwards of $3.9 billion to build, more than the likes of Burj Al Arab and Atlantis The Palm in nearby Dubai.
In September, the UAE announced the formation of the General Commercial Gaming Regulatory Authority, known as the GCGRA, a federal-level entity to regulate and est
