Wynn Resorts says it receives UAE’s first gambling license Reuters

(Reuters) – Hotel and casino operator Wynn Resorts (NASDAQ: ) said on Friday it has been awarded the first commercial gaming operator license in the United Arab Emirates by the country’s General Commercial Gaming Regulatory Authority.

The Las Vegas casino firm said it is developing a luxury resort on Wynn Al Marjan Island in Ras Al Khaimah.

The project, under construction, is a joint venture between Wynn Resorts affiliates Marjan and RAK Hospitality Holding, Wynn said.

The Ras Al Khaimah Government Communications Office, RAKTDA and RAK Hospitality Holding did not immediately respond to Reuters requests for comment.

The United Arab Emirates last month established a federal entity to regulate gambling and hired US industry veterans to run it, ending years of speculation over whether the country would allow gambling – illegal in the conservative Gulf region.

The moves to allow gambling come against the backdrop of intensifying economic competition in the Gulf, particularly with Saudi Arabia. The United Arab Emirates introduced a series of liberal legislative reforms last month as it seeks to maintain its edge as the region’s commercial, tourism and financial hub.