UAE opens doors to gambling: Casinos and digital betting aim to diversify economy
LONDON, Feb. 24 (YPA) – The United Arab Emirates is accelerating efforts to ease legal restrictions on gambling and online betting, signaling a strategic move to diversify its tourism-driven economy — despite tensions with its declared religious values and past scrutiny over money-laundering risks.
In Ras Al Khaimah, about an hour north of Dubai, a 350-metre beachfront casino is under construction and is expected to be among the world’s largest when it opens next year. The project reflects a calculated policy shift toward regulating gambling as a revenue-generating sector.
According to The Economist, the UAE recently amended its civil code to loosen gambling restrictions, after the General Commercial Gaming Regulatory Authority granted its first online betting licence in November. Since then, approvals have expanded to include lottery and sports betting operators.
Tourism data underpin the strategy. Dubai received 19.5 million visitors last year, up nearly 5%, while Ras Al Khaimah aims to raise annual arrivals from 1.4 million to over 5 million by 2030. Average visitor spending in the UAE stands at $1,414 per trip — higher than in Las Vegas or Macau.
US-based Wynn Resorts, which is developing the Ras Al Khaimah project, estimates annual gaming revenues of around $1.7 billion — roughly a third of the projected national market.
The expansion also includes online and sports betting, positioning the UAE within one of the fastest-growing segments of the global gambling industry, granting a licence to a local online betting platform.
This move opens the door to a sector which, in the United States alone, generates revenues equivalent to nearly half those of traditional gambling — and continues to grow rapidly.
According to Wynn Resorts, the project is buoyed by an influx of high-net-worth individuals, particularly from the technology sector, attracted by the UAE’s heavy investment in artificial intelligence infrastructure.
@E.Y.M