United Arab Emirates makes a big leap toward becoming the Gulf’s first country to legalize betting by releasing the Casino and Gambling Policy. This process suggests a dramatic change in the attitude toward gambling and entertainment in the region and may cause significant social and economical impacts. The General Commercial Gaming Regulatory Authority (GCGRA) has released their plan on how they will go ahead in regulating commercial games such as lotteries, internet and sports gaming and online, over the land and sea facilities.
These recently published regulations detail the future of gaming in the UAE: license issuance, slot and poker plans. While the website of the GCGRA has been published and featuring comprehensive information on the regulations for prospective operators and investors, which the previously was a password-protected access. This move can be regarded as a major step in the UAE’s development of a disciplined culture of regulation of gaming business activity and the formation of a first-class international regulatory authority.
The first effective result in the implementation of this new stream of regulation was the issuance of the first license for a lottery operation in the UAE. Jim Murren, the chairman of the GCGRA said that this event demonstrated the UAE’s proper commitment towards fostering a safer, as well as a more vibrant commercial gaming sector. UAE Lottery is considered one of the key developmental phases toward to the creation of lucrative legal gaming sector in the country.
The commercial gaming is defined by GCGRA as any game of chance, probability and skill, for stakes, as well as the games where money or cash equivalents are staked with the intent to win money or other valuable items. By this very broad definition, almost any type of gaming activity is captured under this new framework and includes most of the casino games like slots, roulette, blackjack, baccarat, craps etc.
Another of the new regulatory measures is the regulation of the theme and approaches to responsible gambling. The GCGRA has provided various recommendations on how to prevent underage gambling, with measures being such things as voluntary self-exclusion programs as well as player management tools. These tools are as follows; Deposit limits: This is where the online casino sets a daily, weekly or monthly ceiling that a player cannot exceed in terms of deposits to an account. Measures of this type are intended to enable players to exercise control in relation to their gaming activities, and to abstain from gambling-related pathologies.
A lot of attention is being paid to these regulations by global gaming majors following their publication. Wynn Al Marjan Island, which is actually under construction at the moment is likely to be on the list of those to first be granted the license with its launch expected in 2027. Others which could be considered for casino licences before the end of campaign are Atlantis Dubai and MGM Dubai which are already mega resort complexes under construction.
Opinion of the various industry analysts regarding the UAE gaming market is that it has the potential to experience significant future growth. John Decree, the director of equity research at CBRE, said that the UAE is one of the best opportunities to offer gaming globally, due to factors like its high and existing tourism, demand for luxury and excess spending, and the UAE’s favorable business environment for firms plus its existing transportation and accommodation infrastructure.
It is noted that the legalization of gambling in UAE will bring great economic effects. The regulated gaming industry can significantly contribute to the receipts of the government, distinct employment openings which in turn positively impact the nation’s tourism sector. But the key to success for this type of initiative is the measurement of the ratio between financial interest and ethically responsible behavior.
Because the UAE is in the process of preparing and legalizing gambling facilities, it will be waiting for the results carefully not only from other countries of the Middle East but also from the whole world. This paper identifies ways for the emirate to successfully incorporate gaming into its economy while respecting cultural concerns as well as advocating for those sensitive issues that are rightly associated with gambling and could help other similar nations to succeed in the process.
The emission of these broad and ample regulations is a new episode in the UAE’s diversification progress and a milestone for the country as an entertainment and touristic hub for the world. Over time, more competent authorities shall continue to consolidate and implement sound and effective regulatory mechanism that will enhance the credibility of the gaming operations, custody of clients and reduce on social implications. Over the coming years, even more, amendments to these regulations will likely be introduced, as the UAE continues the challenging process of creating a sustainable and relatively safe gambling market in the middle of the Middle Eastern region.