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MGM CEO expresses optimism on Dubai IR project, awaits approval

October 17, 2023 Dubai Casino & HotelIndustry Updates

Bill Hornbuckle, the CEO of MGM Resorts International, has voiced hope that the United Arab Emirates (UAE) may develop into a center for gaming resorts. He said that UAE authorities are presently considering the group’s project in Dubai, which is being carried out in collaboration with the Wasl Asset Management Group. The goal of this project in Dubai is to build three hotel buildings totaling 1,500 rooms under the Aria, MGM Grand, and Bellagio brands on a 25-acre artificial island. The flexible area in the project is about 150,000 square feet.

The General Commercial Gaming Regulatory Authority (GCGRA), headed by Jim Murren, the former CEO of MGM Resorts International and former chairman of the American Gaming Association, represents a major step toward the legalization of gambling in the United Arab Emirates. According to a 2023 Bloomberg Intelligence analysis, the United Arab Emirates may become the largest gaming market in the world, earning up to $6.6 billion annually—more than Singapore.

Hornbuckle emphasizes MGM’s long-standing partnership with Dubai and expresses optimism for the future. The business is ready to adjust to a range of situations, such as leasing gaming locations or making stock investments. Apart from MGM, Wynn Resorts, the gaming operator, has also declared its intention to create an integrated resort featuring a casino in the United Arab Emirates. The first development of Wynn Al Marjan Island, scheduled to open in Ras al-Khaimah in 2027, is now ongoing.

Original story by: Asia Gaming Brief

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