Wynn Resorts continues to make headlines. This massive gambling operator has been looking at expansion over the last few years and now has its sights set on the Middle East. Today, we’ll talk about some of the details surrounding the Wynn Resorts UAE Resort.
The news of a possible casino opening in the United Arab Emirates is spreading like wildfire. It’s already having a major impact on Wynn Resorts’ share prices, too.
Let’s take a look at some of the details surrounding this newly-proposed casino.
Here’s What We Know About the Wynn Resorts UAE Casino
Wynn Resorts has been one of the most successful gambling companies in the United States for two decades. The past two years have been some of the most unusual in history for this major casino operator. The pandemic led to huge revenue drops for this company and continues to affect its operations today.
Things are not completely bleak for Wynn Resorts. Officials within the company have been focused on expansion and rumors have been circulating that a move into the United Arab Emirates was being considered. This week, reports surfaced claiming that a Wynn Resorts UAE casino will be opening its doors in the future.
This is massive news for the world’s gambling industry. Wynn Resorts revealed that it plans to open a multi-billion dollar resort featuring a 1,000-room hotel with 10 restaurants and lounges. The Ras al-Khaimah Tourism Development Authority confirmed this news and claims it will regulate this resort along with any “gaming” options it provides. Marjan, the Ras al-Khaimah developer monitoring this deal, released a new statement on the resort this week.
“The newly announced integrated resort is still in its early design phase and due for completion by 2026,” the statement said. “These are all the details that can be provided at this stage.”
Many analysts are now questioning what exactly is being planned here. The Middle East is, historically, a largely anti-gambling region. Will Wynn Resorts’ new property in the UAE offer full casino gambling options?
What Type of Gambling Options Will This Resort Offer?
Hearing that a casino is opening in the United Arab Emirates will likely take many by surprise. This country is known for being one of the most liberal in the Middle East towards many activities. It has prohibited all forms of gambling in the past, however, with no signs that this would change in the future.
This is why so many have been surprised to hear about the proposed Wynn Resorts UAE Casino. Analysts remain skeptical that this property will be given permission to offer the same types of games found inside Las Vegas casinos. That appears to be what Wynn Resorts is pushing for, though.
Leaders in the United Arab Emirates have been liberalizing their laws over the last few years. Allowing casino gambling in the country will almost certainly help to fuel tourism. Officials within Wynn Resorts claim they are focused on offering “responsible gaming at all levels.”
It remains unclear exactly what forms of gambling will be allowed inside this property. Regulators are still coming up with specific rules and this property is not expected to open until 2026. Based on what is being said, this casino will offer popular casino games including table games and slots.
This property has the potential to completely change the way gambling is viewed throughout the Middle East. We’ll be sure to report more about this property over the next couple of years.
What Else is Wynn Resorts Focused on Right Now?
Wynn Resorts has not exactly thrived over the last few years. This company has been dealing with various issues since the pandemic began. Much of that centered around its operations in Macau, where gambling revenue was hitting all-time lows.
Things seem to be improving in that area. Macau’s government recently revealed the new framework for gambling operators to renew their gaming licenses in the territory. That is great news for Wynn Resorts, which currently owns three resorts in Macau.
Sports betting has also been an important subject for this company. Wynn Interactive, the company’s sports betting brand, has not been performing as well as expected. As a result, Wynn Resorts is planning to sell its sports betting operations.
The initial price of Wynn Interactive was expected to be $3 billion. Very few interested parties emerged and its sale price has since been lowered to $500 million. Those involved with the sale claim that there is too much competition for Wynn Interactive to succeed and Wynn Resorts is now focusing entirely on its casino operations.
Are you excited to hear about the Wynn Resorts UAE casino? Do you think this property will offer Las Vegas-style casino games? Let us know in the comments section below.