(Reuters) – Hotel and casino operator Wynn Resorts (NASDAQ:) said on Friday that it has been awarded the first commercial gaming operator license in the United Arab Emirates by the country’s Commercial Gaming Regulatory Authority.
The Las Vegas-based casino company 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 subsidiaries of Wynn Resorts, Marjan and RAK Hospitality Holding, Wynn said.
The Government Communications Office in Ras Al Khaimah, the Ras Al Khaimah Tourism Development Authority and Ras Al Khaimah Hospitality Holding Company did not immediately respond to Reuters’ requests for comment.
The UAE last month established a federal entity to regulate gambling and appointed veterans of the US industry to lead it, ending years of speculation about whether the country would allow gambling, which is considered illegal in the conservative Gulf region.
The moves to allow gambling come against the backdrop of intensifying economic competition in the Gulf region, especially with Saudi Arabia. The United Arab Emirates last month introduced a raft of liberal legal reforms as it attempts to maintain its supremacy as a commercial, tourism and financial hub in the region.
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