Las Vegas-based hotel and casino operator, Wynn Resorts Ltd., is set to build a multi-billion dollar resort with a "gaming area" in the Ras Al Khaimah in the United Arab Emirates, the casino operator announced on Tuesday.
This announcement comes as the emirate's Tourism Development Authority(RAKTDA) formed a new division to regulate what it called "integrated resorts" which are supposed to include gaming facilities, according to an e-mailed statement from the government authority.
The newly formed government entity will set the rules for “licensing, taxation, operational procedures, and consumer safeguards” required to regulate gaming in those resorts, it said. “The foremost priority of this new division is to create a robust framework that will ensure responsible gaming at all levels.”
Although it wasn’t clear if “gaming” referenced in the statements means gambling, this latest announcement resurfaces the question of whether the Muslim Gulf country is going to legalize gambling any time soon.
RAKTDA said it will consider the “social, cultural, and environmental landscape of the Emirate,” as it forms the regulations.
The planned resort is set to be built on the emirate's Marjan Island, and it is scheduled to open its doors in 2026. The luxurious resort will include over 1,000 rooms, a gaming area, meeting and convention facilities as well as entertainment options. According to Wynn Resorts' statement, the resort will be developed with “significant foreign direct investment by Wynn Resorts”.
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