The world's gambling industry is tentatively betting that the United Arab Emirates may become the first Gulf state to legalize casinos -- a move that could see it eventually surpass Singapore as a center for gambling.
Senior government officials say there are no imminent plans to allow gambling, but casino operators, consultants and lawyers familiar with the matter say there have been early discussions and a change is being considered. Wynn Resorts Ltd., the Las Vegas-based hotel and casino operator, last week unveiled details of a planned $3.9 billion gaming resort in the country, without explicitly saying that it would involve gambling.
Other casino operators have held informal discussions with UAE authorities about gambling, according to an executive at a gaming consultant and a UAE government official, who declined to be identified because the talks are private. Some are scouting for hotels to locate casinos, according to an official at a gaming equipment supplier.
The stakes are high. The UAE could pull in as much as $6.6 billion of gaming revenue annually and eventually surpass Singapore, home to the renowned Marina Bay Sands resort, according to Angela Hanlee, a senior gaming and hospitality analyst for Bloomberg Intelligence.
No comments:
Post a Comment