GGRAsia – MGM Resorts has applied for UAE casino licence: CEO

MGM Resorts has applied for UAE casino licence: CEO

Sep 23, 2024 Newsdesk Latest News, Top of the deck, World

U.S.-based MGM Resorts International, the parent of Macau casino operator MGM China Holdings Ltd, has applied for a casino licence in the United Arab Emirates (UAE), the group’s chief executive, Bill Hornbuckle, has told an investment event.

“Yes, we have [applied for a licence]. We’ve done it in Abu Dhabi,” stated Mr Hornbuckle (pictured in a file photo), speaking last week at the Skift Global Forum 2024.

“We’ve applied for it and hopefully we’ll win the licence there. Each ruler has their city, their state. Each can say yes or no,” said the CEO, as reported by the event’s organiser.

The UAE is composed of seven emirates. They are: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah.

MGM Resorts is already developing a hotel project in Dubai, in the UAE. The site for that scheme is at Porto Island, Jumeirah, a land reclamation site just north of the iconic Burj Al Arab building.

Mr Hornbuckle said previously that MGM Resorts expected to eventually be authorised to operate a casino in the Dubai project.

But in his comments last Thursday, the CEO stated that the company was targeting Abu Dhabi for a casino licence, without providing additional details.

“I hope and believe this year we’ll understand more about Abu Dhabi and the federal mandate and go from there,” observed Mr Hornbuckle at the event.

In July, the website of the UAE gambling regulator – the General Commercial Gaming Regulatory Authority (GCGRA) – went live to the public, and the body has also announced the country’s first-ever lottery licence.

In September last year, it was announced Jim Murren – a former chairman and chief executive of MGM Resorts – was to be the inaugural chairman of the UAE regulator.

Global gaming operator Wynn Resorts Ltd – parent of Macau casino operator Wynn Macau Ltd – is currently developing a casino resort project, Wynn Al Marjan Island, in Ras Al Khaimah, another of the UAE’s emirates.

The project – scheduled to open in 2027 – has been described as US$3.9-billion venture involving local partners, with Wynn Resorts as a 40-percent equity investor.

Earlier this month, Wynn Resorts announced three new executive appointments to Wynn Al Marjan Island, including a chief operating officer and an executive vice president of casino operations.