MGM logo. Source: Harsh - S / Shutterstock.com

MGM Resorts applies for UAE casino licence

MGM Resorts has submitted an application for a casino licence in the United Arab Emirates during the Skift Global Forum in New York. MGM Resorts CEO Bill Hornbuckle remarked, "We applied for something there, and hopefully, we will achieve success. Each ruler in the UAE will have their input, similar to how each state in the U.S. indicates its approval or disapproval. I am optimistic that later this year, we will receive positive news from Abu Dhabi."

While gambling remains restricted for native Emiratis, it's worth noting that expatriates make up 80% to 90% of the country's population. When combined with the influx of tourists from around the world, the potential market for this business becomes significant.

In addition to MGM Resorts, Wynn Resorts is also in the process of obtaining a casino licence from the UAE's General Authority for the Regulation of Commercial Gaming. As of now, the federal regulatory body has only granted one licence for a lottery in the UAE, which was awarded to The Game LLC, much to the disappointment of local lottery operators Emirates Draw and Mahzooz.

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