(Reuters) – Hotel and casino operator Wynn Resorts (NASDAQ:) said on Friday it has been awarded the United Arab Emirates’ first commercial gaming license by the country’s General Commercial Gaming Regulatory Authority.
The Las Vegas-based casino company said it was developing a luxury resort on Wynn Al Marjan Island in Ras Al Khaimah.
The project, which is under construction, is a joint venture between Wynn Resorts subsidiaries Marjan and RAK Hospitality Holding, Wynn said.
Ras Al Khaimah’s government communications agency, RAKTDA, and RAK Hospitality Holding did not immediately respond to Reuters requests for comment.
The UAE last month created a federal entity to regulate gambling and hired US industry veterans to head it, ending years of speculation about whether the country would allow gambling – illegal in the conservative Gulf region.
The moves to allow gambling come against the backdrop of increasing economic competition in the Gulf, especially with Saudi Arabia. The UAE last month introduced a series of liberal legal reforms as it tries to maintain its lead as the region’s trade, tourism and financial centre.
