‘It’s completely in their hands’: Is MGM back to eyeing up Dubai for UAE resort?
MGM Resorts appeared to be going all-in on a casino in Abu Dhabi, with CEO Bill Hornbuckle even suggesting it had submitted a proposal to build a facility in the emirate last September. However, comments Hornbuckle made this week on MGM’s Q1 earnings call may indicate Dubai, where MGM is building a facility that currently does not include gaming, is a target.
Hornbuckle, MGM Chair Paul Salem and Barry Diller of entertainment behemoth IAG — the operator’s largest shareholder — met recently with Maktoum Bin Mohammed, deputy ruler of Dubai, who also serves as the emirate’s deputy prime minister & minister of finance.
Showing the potential of gaming in Dubai
This visit was noticed by Truist’s Barry Jonas, who raised it on the earnings call. In response, Hornbuckle explained the purpose of the visit was to meet the prince and update him on MGM’s Dubai project. The company partnered with Wasl Hospitality and Leisure in 2017 for a two million-square-foot development on Jumeirah Beach, featuring over 1,400 hotel rooms using the MGM, Bellagio and Aria brands. Currently, there are no gaming elements within this facility.
“[The] key mission was to see the prince and to update him on our project, tell him the opportunity that we thought it could bring,” Hornbuckle said. “Not only in the context of a fully integrated resort … but the potential gaming could bring to not only UAE, but Dubai specifically and the whole notion of entertainment and the … unique things that we could bring to the city.
“And it was a great conversation,” Hornbuckle continued. “It’s completely in their hands.”
While the UAE has a federal regulatory body in the General Commercial Gaming Regulatory Authority (GCGRA), Hornbuckle drew parallels with the US in that individual rules determine whether gaming is allowed in an emirate.
Dubai casino plans not yet clear
Dubai’s capital is the biggest city in the UAE, and Dubai is the country’s most populous emirate. However, it has yet to indicate whether it will allow gaming.
“They haven’t said yes, they haven’t said no,” Hornbuckle said. “We are building an environment that can accommodate it. And that building is due to complete third quarter of ’27.”
Construction of MGM’s Jumeirah Beach facility, which began in 2024, is due to be completed in the third quarter of 2028, according to PropSearch.ae.
“[It’s a] pretty exciting building. It’s an exciting project, a truly interesting resort with all kinds of features,” the MGM CEO said. “And so hopefully, we’ll get to add gaming.”
MGM: From Abu Dhabi to Dubai?
Wynn is already building the first UAE integrated resort in Ras Al-Khaimah, due to open in 2027, and there is plenty of speculation about which resort operators could be next.
MGM has previously spoken of its interest in entering the market, though despite the Dubai property it appeared to lean towards Abu Dhabi. At ICE 2024, Hornbuckle suggested the UAE’s capital “feels as if it might go first”, and the GCGRA is based in the emirate.
However Jim Murren, chairman of the regulator — and of Resorts World Las Vegas — appeared to suggest there would be no rush to expand the market beyond Wynn Al Marjan Island. Speaking at the Skift Global Forum East in November last year, he said the process had been moving “very deliberately” and that market expansion would not be rushed.
Other licensees would follow in the “next five to 10 years” but Wynn “certainly has the head start”, he said at the time.
IGT latest supplier to secure UAE gaming licence
While only Wynn and lottery monopoly The UAE Lottery — operated by The Game LLC — have secured operating licences to date, supplier licensing has moved at a much faster pace.
To date, seven gaming-related vendor licences have been awarded, with IGT this week joining the likes of Novomatic, Aristocrat and EQL Games on the list.
GCGRA ramps up international collaboration with NJDGE MoU
The GCGRA this week signed what appears to be a cooperation agreement with another regulator, signing a Memorandum of Understanding with New Jersey’s Division of Gaming Enforcement. Through the agreement, the DGE and GCGRA will collaborate on initiatives around consumer protection and cybersecurity, as well as developing responsible gaming technology.
“As a pioneer in gaming regulation, DGE is excited to partner with the GCGRA to share expertise in technological advancements, cybersecurity, and responsible gaming initiatives,” New Jersey Division of Gaming Enforcement Interim Director MaryJo Flaherty said in a statement released Thursday.
“Commercial gaming is a cornerstone of our vision for diversified economic growth, significantly contributing to tourism and foreign investment,” GCGRA Chief Executive Kevin Mullally added.
“This partnership with New Jersey’s DGE aligns cutting-edge technology with modern regulatory frameworks, unlocking economic potential while prioritising consumer protection and responsible gaming.”
Speaking at the signing ceremony, New Jersey Governor Phil Murphy said the GCGRA’s vision aligned with New Jersey’s role as a market leader in gaming regulation.
“This collaboration between GCGRA and DGE will drive innovation, strengthen consumer protections, and enhance economic opportunities in both regions,” he added.
Shares in MGM Resorts were trading up 2.54% at $31.62 per share in New York Friday morning.