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Speculation is mounting over when the UAE could make the move to legalize gambling after issuing its first commercial gaming operator license to Wynn Resorts, Bloomberg said in its Mideast Money newsletter. Bloomberg Intelligence estimates that the gaming sector could contribute nearly 1.3% to the UAE’s GDP and generate approximately USD 6.6 bn.
In July, the UAE established a regulatory framework for the gaming industry, although specific regulations on gambling are still pending. Meanwhile, MGM Resorts has applied for a license to operate casinos in Abu Dhabi. Recent analysis from Morgan Stanley suggests that casinos in the UAE could yield annual gaming revenues between USD 3-5 bn depending on local gambling permissions.
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