The story behind Ras Al Khaimahs first casino - Investment Monitor
The emirate of Ras Al Khaimah raised several eyebrows when it announced it would be opening a casino in a country where gambling is illegal.
The emirate of Ras Al Khaimah raised several eyebrows when it announced it would be opening a casino in a country where gambling is illegal.
Hassan Jivraj24 May, 2023Share - Copy Link
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By GlobalDataThe Wynn Al Marjan Island will be Wynn Resorts’ first foray in the Middle East and North Africa (MENA) region. Located on Al Marjan Island, a man-made archipelago of four islands off the coast of RAK, the resort will have 1,500 rooms, suites and villas and will host various entertainment options, a gaming area and 24 dining and lounge experiences. Al Marjan is located a 15-minute drive from RAK International Airport and about 45 minutes from Dubai International Airport.
Wynn Resorts’ decision to enter RAK came as the RAK Tourism Development Authority (RAKTDA) was establishing a new division focused on the regulation of integrated resorts. RAKTDA said that foremost priority of this new division is to create a robust framework that will ensure ‘responsible gaming’ at all levels.
See Also:- Levi Strauss joins Pakistan safety Accord, urged to join Bangladesh Trump-proofing the EU: too little, too late? FDI flows beyond the traditional sectors like oil and gas, real estate, construction and financial services,” he says. “By incorporating gaming into the economy, the UAE will add a new dimension to its tourism and entertainment offerings.”
Can RAK become a UAE tourism hotspot?
Dubai, the UAE’s commercial hub, tends to attract the bulk of the tourists and FDI coming into the country. Dubai attracted 26 of the UAE’s 41 FDI projects in the tourism sector in 2022, according to GlobalData figures. In comparison, RAK attracted just four tourist investments across the same 12 months.
RAK is, however, looking to up its tourism game, focusing on nature and adventure tourism, as well as meetings, incentives, conferences and exhibitions. Under RAKTDA’s Tourism Vision 2030 strategy, the emirate hopes to become a regional leader in sustainable tourism, targeting more than three million annual visitors by 2030.
In addition to Wynn Resorts, a spokesperson for the Al Marjan Island resort told Investment Monitor that Nobu Hospitality has announced the development of Nobu Al Marjan Island, containing a luxury hotel and branded residences.
“Further, Marriott International and Three Musketeers Hospitality, a UAE-based real estate developer, are bringing Le Méridien Hotels & Resorts to Ras Al Khaimah with the new Le Méridien Al Marjan Island Resort & Spa, which will add 350 keys to the emirate’s hospitality offering by 2026,” added the spokesperson.
Will other emirates follow RAK’s casino move?
Under UAE federal law, gambling is illegal throughout the country. In fact, under chapter six of the UAE’s penal code, anyone caught gambling can face imprisonment of up to two years and a maximum fine of Dh50,000 ($13,600).
At present, gamblers searching for casinos in the MENA region must travel to either Egypt or Lebanon. However, as the opening of the Wynn Al Marjan Island draws closer and its gaming rules are clarified, other emirates will pay close attention to what kind of reception receives from both locals and tourists. Whether they would be able to amend their laws or regulations to attract gaming and gambling organisations is another matter.
“Emirati officials will ultimately need to delineate the line between gaming and gambling more clearly, given the socio-religious sensitivities associated with the industry,” says Mogielnicki. “I suspect it will be heavily regulated.”
It seems highly unlikely that RAK will be transformed into a Middle Eastern version of Las Vegas or Macau. However, the ushering through of this casino shows that the emirate is looking to think outside the box when it comes to attracting attention away from not just Dubai and Abu Dhabi, but also the likes of Saudi Arabia and Qatar. If it is a success then both foreign investors and local authorities in other emirates will looking to emulate that, meaning RAK’s gamble could have big repercussions for the whole region.
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Dubai, the UAE’s commercial hub, tends to attract the bulk of the tourists and FDI coming into the country. Dubai attracted 26 of the UAE’s 41 FDI projects in the tourism sector in 2022, according to GlobalData figures. In comparison, RAK attracted just four tourist investments across the same 12 months.
RAK is, however, looking to up its tourism game, focusing on nature and adventure tourism, as well as meetings, incentives, conferences and exhibitions. Under RAKTDA’s Tourism Vision 2030 strategy, the emirate hopes to become a regional leader in sustainable tourism, targeting more than three million annual visitors by 2030.
In addition to Wynn Resorts, a spokesperson for the Al Marjan Island resort told Investment Monitor that Nobu Hospitality has announced the development of Nobu Al Marjan Island, containing a luxury hotel and branded residences.
“Further, Marriott International and Three Musketeers Hospitality, a UAE-based real estate developer, are bringing Le Méridien Hotels & Resorts to Ras Al Khaimah with the new Le Méridien Al Marjan Island Resort & Spa, which will add 350 keys to the emirate’s hospitality offering by 2026,” added the spokesperson.
Will other emirates follow RAK’s casino move?
Under UAE federal law, gambling is illegal throughout the country. In fact, under chapter six of the UAE’s penal code, anyone caught gambling can face imprisonment of up to two years and a maximum fine of Dh50,000 ($13,600).
At present, gamblers searching for casinos in the MENA region must travel to either Egypt or Lebanon. However, as the opening of the Wynn Al Marjan Island draws closer and its gaming rules are clarified, other emirates will pay close attention to what kind of reception receives from both locals and tourists. Whether they would be able to amend their laws or regulations to attract gaming and gambling organisations is another matter.
“Emirati officials will ultimately need to delineate the line between gaming and gambling more clearly, given the socio-religious sensitivities associated with the industry,” says Mogielnicki. “I suspect it will be heavily regulated.”
It seems highly unlikely that RAK will be transformed into a Middle Eastern version of Las Vegas or Macau. However, the ushering through of this casino shows that the emirate is looking to think outside the box when it comes to attracting attention away from not just Dubai and Abu Dhabi, but also the likes of Saudi Arabia and Qatar. If it is a success then both foreign investors and local authorities in other emirates will looking to emulate that, meaning RAK’s gamble could have big repercussions for the whole region.
Free Whitepaper
Digital economics: are you capturing the high-growth opportunities?
Digital economics is remodelling consumer markets and rewiring global value chains. Download this free whitepaper from Malaysia Digital (formerly the Multimedia Super Corridor) to explore how your business can take advantage of the high-growth opportunities presented by the digital and AI transition. Thank you.You will receive an email shortly. Please check your inbox to download the Whitepaper.
By MDEC
Digital economics: are you capturing the high-growth opportunities?
Digital economics is remodelling consumer markets and rewiring global value chains. Download this free whitepaper from Malaysia Digital (formerly the Multimedia Super Corridor) to explore how your business can take advantage of the high-growth opportunities presented by the digital and AI transition. Thank you.You will receive an email shortly. Please check your inbox to download the Whitepaper.
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