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Is the UAE a safe bet?
The UAE, defying stereotypes and even faith, is on the cusp of an industry revolution, with recent regulatory changes marking a major shift in the country’s stance on commercial gambling. Is the UAE a safe bet? This article explores the current state of play for gambling legislation in the UAE and prospects for the industry in the region.
One foot in the door
Dubai and Abu Dhabi are arguably the best-known of the seven Emirates that make up the United Arab Emirates. Until recently, Ras al Khaimah seldom reached global headlines. Until that is, the Wynn resort, which is currently being built there, was awarded the first UAE license to operate a land-based casino.
The GCGRA
The UAE’s strategic location and strong economy have long made it a magnet for international business. With the establishment of the General Commercial Gaming Regulatory Authority (GCGRA) in September 2023, the country is on the right track to becoming a major player in the global gaming industry. The regulatory body, tasked with creating a framework for national lottery and commercial gaming, marks a departure from the UAE’s traditionally conservative stance on gambling.
Located in Abu Dhabi, the GCGRA is led by a team of experts in commercial gaming regulation, financial crime prevention, gambling technology, law enforcement and responsible gambling. It aims to create a socially responsible and well-regulated gaming environment, ensuring that all participants adhere to strict guidelines and comply with the highest standards.
Globally respected regulator Kevin Mullally was appointed as CEO. On his appointment, Mr. Mullally said: “I am delighted to have been appointed as the inaugural CEO of the GCGRA. With my experienced colleagues, I look forward to establishing a robust regulatory body and framework for the UAE’s lottery and gaming industry.”
In July 2024 the GCGRA awarded a license to The Game LLC, an operator specialising in game development, lottery operations, and gaming-related content, to operate the UAE’s first authorised lottery operation. Operating under the ‘UAE Lottery’ banner, the GCGRA’s first licensee will offer a variety of lottery games and other games designed to match players’ interests and preferences.
Jim Murren, the Chairman of the GCGRA, said “The launch of the UAE Lottery is a pivotal event that not only marks the establishment of a disciplined world-class regulatory framework for lottery activities but also underscores our commitment to nurturing a secure and enriched commercial gaming environment in the UAE.”
Following the launch of the GCGRA, the Responsible Gaming MENA organisation was set up, dedicated to promoting integrity and responsibility within the sector in the MENA region. Their core mission is to offer compliance and regulatory support to operators and help businesses minimise risk and foster sustainable growth in the indistry.
Other licenses were awarded later that year. In October, 2024 the GCGRA issued the first casino license to Wynn Resorts and also issued the first gaming vendor licence to Aristocrat Technologies. More recently, the GCGRA published a press release warning against unlicensed lottery and gaming operators and the risks to consumers in engaging with such operators. The cautionary notice warned:
“Consumers who choose to play or do business with an unlicensed operator face significant risks, including financial loss, becoming the victims of cheating or fraud, having their personal data stolen or misused, increasing the risk of malware, phishing, or other cybersecurity threats, and being implicated in a regulatory or criminal investigation and the subsequent reputational damage.”
Wynn’s resort at Ras Al Khaimah
Wynn Resorts is developing Wynn Al Marjan Island, the first casino resort in the UAE. It is a joint venture involving Wynn Resorts, Marjan, and RAK Hospitality Holding and arguably establishes a new major destination for casino tourism in the region. Here are the key details and facts about the project
Opportunities in gambling
The potential of the UAE’s gambling market is staggering, and projections put it on par with established gaming destinations like Singapore. With its commitment to cutting-edge technologies such as blockchain, AI, and fintech, innovation is at the heart of the UAE’s ambitions for the industry. The UAE also offers a favourable tax environment, with gambling tax rates projected to be between 10% and 12% of GGR. This competitive rate, the country’s strategic location, and the thriving tourism sector make the UAE attractive for investment.
The UAE’s move towards legalising gambling could have a ripple effect on the broader Middle East, potentially inspiring other nations in the region to reconsider their policies on gambling and entertainment. While challenges remain, including cultural considerations and potential societal impacts, the UAE’s recent actions suggest a clear intent to move forward with regulated gambling.
The significance of AIBC Eurasia
Speaking to SiGMA News, Eman Pulis, founder of SiGMA said:
“I am very excited about the recent developments in the UAE. Since 2021, in the midst of COVID, SiGMA has hosted an annual summit in Dubai, establishing a vibrant tech hub for networking, collaboration, and innovation. Our presence in this region reflects our commitment to supporting the growth and transformation of the region’s emerging landscape.”
AIBC Eurasia 2025, scheduled for February 23-25 at the Festival Arena in Dubai, presents the perfect event for those looking to capitalise on these emerging opportunities. The summit promises to bring together policymakers, developers, C-suite executives, and legal experts across the blockchain and AI sectors.
With an expected attendance of 14,000 delegates, including 4,480 affiliates and 300 speakers, AIBC Eurasia offers unparalleled networking opportunities. The event’s structure, featuring keynote speeches, panel discussions, and workshops, provides a comprehensive platform for learning about the latest trends and forming strategic partnerships.
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