Gambling News’ Post

*MGM CEO Confident UAE Resort Will Offer Casino Gaming* - Bill Hornbuckle says MGM will run casino in Dubai project - Reportedly UAE gaming degree has been signed but not released - MGM to apply for New York license by end of 2023 MGM Resorts International CEO Bill Hornbuckle is confident that their planned resort project within the United Arab Emirates (UAE) will eventually be licensed to offer casino gaming, as the company continues to move forward with opportunities in Japan and New York. “Originally, it was just going to be a management agreement because we wanted the stake,” Hornbuckle said. “We have told them, we will put equity in or will lease the casino in its entirety and give us the casino business. I don’t know if they are going to want to be in the casino business.” MGM has been involved with a project with Wasl Asset Management Group in Dubai that will see the Las Vegas-based company manage a major non-gaming resort being developed, which also includes a 150,000 to 200,000-square feet space that could be used for a casino. The 1,000-room hospitality project is being built on a man-made island called Proto Island. Since the beginning of the year, Hornbuckle has made it clear in conversations with analysts and reporters that any legalization of gaming in the UAE as a whole was up to Abu Dhabi and the national government to decide. Hornbuckle said he ultimately expects MGM will end up leasing the casino. “What we are not going to do is take our brand, our company, our database of customers and get an 8 percent to 10 percent (vigorish). That ain’t happening,” Hornbuckle told attendees on Thursday (September 7) at the Bank of America Securities 2023 Gaming and Lodging conference in New York. “So, it has to be a sizeable piece of the real gaming business,” he said. On Monday, the UAE announced it was creating its first gambling regulatory authority to oversee lotteries and potentially other forms of gaming. “Reportedly there is a gaming degree that has been signed but not released,” Hornbuckle said. #uae #gamblingindustry #casinos https://lnkd.in/ep7Sc8YR

Behold the new entrant in the world of the Gaming Industry, UAE is holding no stone unturned in establishing its mark in the gaming Industry, the legalization of gaming in the country by creating a General Commercial Gaming Regulatory Authority (GCGRA) has sent the clear message that Adios Macau the new king is going to emerge. A 2023 report by Bloomberg Intelligence estimates that the UAE could generate up to $6.6 billion in gambling revenue annually, potentially surpassing Singapore, although visibility of profitability is low as the government hasn’t defined a tax structure. Abu Dhabi is exploring the opportunity to open a casino, with Yas Island, and as for Ras Al Khaimah, a northern emirate about a 45-minute drive from Dubai, Las Vegas-based Wynn Resorts Ltd has announced plans for a $3.9 billion integrated resort that's due to open in 2027. This might be an opportunity for the Entrepreneurs to explore this industry which is currently in its initial years. Contact us for more information# GCGRA # UAE Casino https://lnkd.in/dwKKx3bj

Could casinos redefine the UAE's economic landscape? The buzz is real. MGM's CEO drops a hint. The UAE might approve four casinos soon. This isn't just about entertainment. It's a strategic move. Boosting tourism. Attracting global investors. And diversifying the economy. Casinos can be game-changers. Literally and economically. But with opportunities come challenges. Regulatory aspects. Cultural implications. And sustainable growth. Now, imagine the potential. Local family offices can play a role. They can bridge gaps. Offer insights. And provide necessary support. Their local knowledge is invaluable. Their expertise, even more so. But it's not just about casinos. It's about the bigger picture. A diversified economy. A thriving tourism sector. And a brighter future for the UAE. Family offices have a golden chance. To shape this narrative. To lead from the front. And to guide this transformation. Are you ready to be part of this journey? Need strategic insights? Smart Tomorrow is here to guide. Connect with us. Let's leverage this opportunity together. Achieve success, smarter and faster. #UAE #Casino #Gaming #FamilyOffice #SmartTomorrow BAIOS Spark Borderless Blockchain Alliance

ADDMORE : Adding winning values every day Breaking New Ground in Hospitality: The Game-Changer of Gambling Licenses I am Thrilled to share some groundbreaking news that's reshaping the hospitality industry! For the first time ever, UAE countries are considering issuing gambling licenses to hotels, unleashing a world of potential. Here's why this is a monumental move: 🚀 Economic Booster: This strategic play is not just about rolling the dice; it's a calculated move towards significant economic growth. Hotels with gambling facilities are set to see a surge in occupancy rates, increased tourism, and job creation that benefits the local economy. 🤝 Enhanced Guest Experience: The integration of gambling licenses is a game-changer for guest entertainment. It positions hotels as comprehensive leisure hubs, offering guests the convenience of luxury and leisure under one roof. 🔍 Regulated Environment: With official licenses, gambling in hotels transitions from a niche to a mainstream, regulated activity. This ensures a safe and responsible gaming environment for guests, fostering trust and a reputation for excellence. 💡 Innovation Hub: This move paves the way for technological advancements and innovative hospitality solutions, making hotels not just places to stay, but destinations to experience. 🌐 Global Attraction: As the first in their countries to hold these licenses, these pioneering hotels stand to redefine destination allure, drawing in a global audience and placing themselves firmly on the map of international hotspots. The dice have been rolled, and it looks like the hospitality industry might just hit the jackpot. Excited to see how this will revolutionize the landscape for travelers and economies alike! Contact caddley@addmoreservices.com to discuss with us our experience in the Middle East and the hospitality and gaming industry #HospitalityInnovation #GamblingLicense #EconomicGrowth #GuestExperience #InnovationInHospitality #addmoreservices #philippines #outsourcing

Aric Dromi, keynote speaker at the ECA Industry Forum 2023, staged at Casino Montreux, Switzerland, spoke to G3 magazine during the event about his views regarding the European land-based casino sector. In the article, Aric discusses innovation within the industry, opportunities for the land-based casino sector and how casinos can attract new audiences. “I would like to see casinos build functional and experiential concepts that are unique for their casino audience and use this to work with technology companies to build highly personalised experiences for their customers.” - Aric Dromi. Click the link below to read the full article. #ECAindustryforum #landbased #innovation #european #casinosector

“After the United Arab Emirates set up a framework for legalized gaming in September, Abu Dhabi is mapping out what it would look like to open a casino, with Yas Island — home to the Ferrari World and Warner Bros. theme parks, as well as the Yas Marina Formula One Circuit — and a plot near the city’s port among the sites being considered, some of the people said, asking not to be identified because the discussions are private. In Ras Al Khaimah, a northern emirate about a 45-minute drive from Dubai, Las Vegas-based Wynn Resorts Ltd. (WYNN) has announced plans for a $3.9 billion integrated resort that’s due to open in 2027. In Dubai, meanwhile, senior government officials decided after months of discussions that gambling wasn’t a priority for the city because its tourism sector is already booming, some of the people said. (…) What Bloomberg Intelligence says: “The casino market of the UAE could surpass that of Singapore in terms of revenue, although visibility of profitability is low as the government hasn’t defined a tax structure. Benchmarking against Singapore, UAE’s gaming revenue could reach $6.6 billion and implied gaming outlay per tourist in UAE might fall below that in Singapore and Macau. This is despite the similar consumption power of tourists in UAE, if crowded ultra-luxury hotels in Dubai are an indication.””

Las Vegas Sands Corp., the world’s leading developer and operator of convention-based integrated resorts, released its Q3 results for the quarter ending on September 30th, 2023. After completing the sale of its Vegas properties including The Venetian, Palazza, and Venetian Expo for $6.25bn in 2022, the Group’s focus is solely on Macau and Singapore properties. Their quarterly results are therefore a good indicator of the direction of the Asian gaming market and a bellwether for Casino operators with a footprint in Asia. If you want to get an overview of the key figures without having to go through the full results announcement, read on! #LasVegasSands #Q3Results #Macau #CasinoEarnings https://lnkd.in/gB8vjchF

Melco Resorts & Entertainment is likely to return to its pre-pandemic levels in terms of deleveraging in the next 12 to 24 months amid an EBITDA recovery powered by a mass gaming market, S&P Global Ratings has predicted.

Many believe that the #casino industry has undergone a significant transformation over the years, shifting from traditional land-based establishments to the ever-expanding realm of #onlinecasinos. This evolution has brought about convenience, accessibility, and a wide array of #gaming options for players worldwide. However, with this shift come both opportunities and challenges that stakeholders must navigate as the industry continues to evolve. The Golden Era of Casinos The Expansion of Las Vegas and Atlantic City One of the defining features of the golden era of casinos was the unprecedented expansion of Las Vegas and Atlantic City. Las Vegas transformed from a dusty desert town into the gambling capital of the world, with iconic casinos like the Flamingo, Sands, and Stardust rising up along the famous Strip. Atlantic City, on the other hand, became the East Coast's answer to Las Vegas, with resorts like the Trump Taj Mahal and the Borgata reshaping its skyline. The #AIincasinos #CasinoEvolution #CasinoIndustryTransformation #CasinoTechnology #EconomicImpactofCasinos #futureofcasinos #GoldenEraCasinos #LandBased #Online #OnlineCasinoBoom #RegulatoryChallengesinOnlineGambling #TechnologicalAdvancementsinGambling #VRinGambling

Given the economic forecast, the Thai government is pushing forward with its proposal for casino entertainment complexes. Read more here: https://lnkd.in/g6hz5dw2 #Thailand #government #casino #entertainment #proposal #investment #hotels #gambling #gaming #playing #boost #tourism #revenue #benefits #industry #economy #trending