08/10/2024
Lifestyle
From Las Vegas to the Arabian Emirates, US hotel and casino giant Wynn is establishing a new resort within the emerging gambling hub of the UAE.
Wynn Resorts is set to open a US$3.9 billion resort featuring a casino in one of the UAE’s seven emirates, Ras Al Khaimah, on the artificial Al Marjan Island. Developed in collaboration with local partners Marjan LLC and RAK Hospitality Holding LLC, the Wynn Resort is scheduled to open its doors in 2027, with construction work already underway.
The multi-billion dollar resort will feature over 1,500 luxury-styled rooms, suites and villas, and 24 restaurants. The array of entertainment options and gaming areas is expected to be subject to a gross gaming revenue tax rate of between 10 per cent and 12 per cent. Poised to recreate Las Vegas in the Middle East, trademarks from Wynn include the “Arabian Strip” and the “Marjan Strip.” The group also registered the “Encore Marjan Island” trademark, highlighting the potential for a sister hotel reminiscent of Wynn and Encore in Las Vegas.
In preparation for the opening, the UAE has established a new regulatory body, the General Commercial Gaming Regulatory Authority (GCGRA), to regulate its emerging commercial gaming industry. As the first Gulf state to legalise casinos, this movement indicates the potential for the largely previously untapped Middle East gaming market.As stated in a UAE state publication, WAM, the GCGRA is to “create a socially responsible and well-regulated gaming environment” and “facilitate unlocking the potential of commercial gaming responsibly”.
This initiative is already garnering international interest from hospitality leaders, offering a range of investment opportunities. The visionary gaming landscape of the UAE has since attracted other prominent players in the luxury hospitality industry, with five-star establishments like Nobu, W Hotels, and Le Meridien set to join Al Marjan Island.
As these developments progress and the “Arabian Strip” takes shape, it represents an exciting new era in the Middle East’s luxury tourism journey.
Credit: https://globetrender.com/2023/10/19/wynn-casino-resort-uae-middle-east/
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