MGM in Dubai: a future casino on Jumeirah Beach?
The announcement of a mega-project signed MGM Resorts and Wasl on the Jumeirah coast raises a central question: will Dubai allow a casino in this luxury complex? While the news would be very positive for Dubai from an economic point of view, it could be a disaster for Ras Al Khaimah.
A $2.5 billion project
The MGM Resorts International project on the Jumeirah coast has been attracting attention since 2017. Announced in conjunction with developer Wasl, it involves a 10.5-hectare complex. Three iconic hotels are expected: Bellagio, MGM and Aria. But one point remains unresolved: authorization for a casino.
A decision in the hands of Sheikh Mohammed
Today, the head of Dubai did not approve the inclusion of gambling in the project. However, MGM CEO Bill Hornbuckle is confident. According to him, all that's missing is a green light from Sheikh Mohammed. If approved, the project would have a major economic impact.
A market worth between 5 and 8 billion
Morgan Stanley analysts estimate that the gaming market in the Emirates will be worth between $5 and $8 billion. This potential could overtake Singapore, the current global benchmark. Expats represent 80-90% of the population and are a natural customer base. Visitors from India, China and the Middle East further boost tourism potential.
Competition already present with Wynn Resorts
To date, only Wynn Resorts has obtained a casino license. Its project, the Wynn Al Marjan in Ras Al Khaimah, is worth $5.1 billion. It is due to open in early 2027, with a 15-year renewable monopoly. But several sources confirm that Wynn will not remain alone in this strategic market.
MGM's Island Resort in the works
Even without a casino, MGM's Island Resort is moving ahead. It is scheduled to open in the second half of 2028. Hornbuckle estimates that three or four casinos will be built in the Emirates over the next decade. MGM has one advantage: the presence of former MGM executives on the regulatory board. Jim Murren, ex-CEO of MGM, chairs the General Commercial Gaming Regulatory Authority.
A major opportunity for Dubai
Dubai already attracts the ultra-rich thanks to its attractive tax framework and exemplary security. With a casino, the Emirate would reinforce its status as a global hub for luxury and entertainment. Hornbuckle remains optimistic: "If the Island gets a casino, it will be a massive opportunity."
What impact for Ral Al Khaimah?
The Ras Al Khaimah casino, to be developed by Wynn, has attracted investors from all over the world. If the Wynn Marjan Island casino is indeed the only one in the Emirates, the impact could indeed be enormous. On the other hand, if casinos are made official in Dubai and Abu Dhabi, the performance of the Ras Al Khaimah market could fall short of expectations. That's why, at Dubai Immo, we've been very cautious since the beginning of the excitement surrounding RAK. Time will tell!
Guillaume Giroux, Dubai Immo founder and real estate expert, Dubai, UAE
As founder of the Dubai Immo Group and a real estate investor, I bring you daily updates on the Dubai market. My aim is to provide you with all the keys you need to invest wisely and securely, by sharing my in-depth analysis and strategic advice.
