The United Arab Emirates (UAE) has taken significant steps toward entering the world of gaming and casinos by forming the General Commercial Gaming Regulatory Authority (GCGRA).
This federal entity is entrusted with overseeing and regulating the burgeoning gaming sector within the UAE. Notably, the UAE has enlisted the expertise of veterans from the US gambling industry to lead this regulatory initiative.
Jim Murren, the former Chairman and CEO of MGM Resorts International, has been appointed as the Chair of GCGRA. Alongside him, Kevin Mullally, who formerly served as the Vice President of Government Relations and General Counsel for Gaming Laboratories, has taken on the role of CEO at the GCGRA.
The primary focus of GCGRA is to facilitate the establishment of the UAE's debut casino resort, the Wynn Al Marjan Island, situated in Ras Al Khaimah. This ambitious project carries a hefty price tag of $3.9 billion and is slated for opening in 2027.
Jim Murren expressed his enthusiasm for the appointment of Kevin Mullally, emphasizing the invaluable experience he brings to the table. He emphasized that Mullally's expertise would be crucial in crafting a regulatory framework tailored to the UAE's unique gaming landscape.
The UAE's gaming regulator has articulated its commitment to fostering a socially responsible and tightly regulated gaming environment. Their mission is to ensure that all participants in the gaming industry adhere to stringent guidelines and operate in accordance with the highest standards.
Moreover, the GCGRA has stated its intent to streamline regulatory activities, manage national licensing, and responsibly harness the economic potential of commercial gaming in the UAE. This comprehensive approach underscores the UAE's dedication to establishing a robust and reputable gaming industry while upholding social responsibility.
As the UAE embarks on this journey into the world of gaming and casinos, it appears poised to do so with a regulatory framework that draws upon the expertise of seasoned industry leaders from the United States. This venture is set to reshape the nation's entertainment landscape and could potentially have far-reaching economic implications.
By fLEXI tEAM