As Iran launches military strikes on the Middle East, including the UAE, two American gambling giants heavily invested in the UAE—Wynn Resorts and MGM International—are closely monitoring the situation. Wynn has invested $5.1 billion in building a casino complex on Ras Al-Haimah Island, while MGM is developing a $1.2 billion non-gambling resort "The Island" at Jumeirah Beach in Dubai, having applied for a casino license and expecting to open in 2028. Simply put, the luxury resorts haven't opened yet, but gunfire has already erupted at their doorstep. The U.S. State Department has requested non-essential personnel to evacuate, with security risks sharply escalating in multiple countries including the UAE. Want to know how geopolitics affects the global gambling industry? PASA's official website continues to track industry-leading trends.
Giants urgently respond, employees take shelter on site
Wynn Resorts states it is "closely monitoring the situation" and has developed an emergency plan to ensure employee safety. An MGM spokesperson confirmed that employees "have taken shelter on site as directed by authorities" and maintain regular contact. Jim Murren, former chairman and CEO of MGM and now chairman of the UAE Gambling Regulatory Authority, has not yet commented on the matter.
UAE gambling blueprint: Targeting the wealthy, aiming for billions
The UAE has legalized gambling as a core strategy to develop tourism and fend off competition from Gulf rivals like Saudi Arabia. Wynn's Marjan Island is set to open in March 2027 as the first casino resort in this high-end market, directly targeting super-wealthy individuals. MGM plans a "future entertainment destination" integrating luxury hotel brands (MGM Grand, Bellagio, Aria) and is striving to obtain a casino license. Although UAE citizens are prohibited from gambling, foreigners make up 90% of the population, including many foreign millionaires and billionaires attracted by lenient residency policies, tax-free personal income, and low crime rates.
Industry outlook: Annual revenue of $8 billion to $10 billion?
SCCG Management analysis suggests that, if managed properly, the region's multiple casino resorts and extensive online gambling could eventually generate an annual gambling industry output of $8 billion to $10 billion, positioning the UAE to compete with Singapore or Macau in the post-VIP era. However, the current crisis has had an immediate impact on stock prices, with Wynn's stock falling by $4.75 and MGM's by $1.14 on Monday.
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This article is from "PASA-Global iGaming Leaders," a gambling industry news channel: https://t.me/pasa_news
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