Dubai, UAE – The United Arab Emirates (UAE) has established a federal entity responsible for regulating gaming activities within the country. This move has attracted attention, especially considering that gambling has long been illegal in the conservative Gulf region, the UAE news agency WAM reported.
Ras Al Khaimah, one of the UAE’s seven emirates, is planning to open a Wynn Resort valued at around $3.9 billion, which will include a casino.
The decision to allow gambling comes amid heightened economic competition in the Gulf, particularly with neighboring Saudi Arabia. The UAE has been implementing various liberal legal reforms to maintain its status as the region’s primary hub for trade, tourism, and finance.
The newly formed regulatory authority, known as the General Commercial Gaming Regulatory Authority (GCGRA), will be led by industry veterans from the United States. Jim Murren will serve as the chairman, while Kevin Mullally has been appointed as the chief executive.
Kevin Mullally brings over 17 years of experience from his time at Gaming Laboratories International, and he previously served as the executive director of the Missouri Gaming Commission, which oversees riverboat gambling.
Jim Murren, on the other hand, held the position of chairman and chief executive at MGM Resorts International from 2008 to 2020.
Mullally expressed his commitment to establishing a robust regulatory framework for the UAE’s lottery and gaming industry, stating, “With my experienced colleagues, I look forward to establishing a robust regulatory body and framework for the UAE’s lottery and gaming industry.”
According to reports from the state news agency WAM, the GCGRA aims to create a socially responsible and well-regulated gaming environment. They will enforce strict guidelines and uphold the highest standards, overseeing regulatory activities, managing national licensing, and ensuring responsible commercial gaming that unlocks the economic potential of the industry.