The United Arab Emirates has established a federal body to regulate the gaming industry, potentially paving the way for the legalization of gambling in the Gulf country.
The new authority is being set up to introduce a “world-leading regulatory framework” for a national lottery and commercial gaming, state media reported late on Sunday. The move comes a month after Wynn Resorts, which is building a $3.9 billion gaming resort in the UAE, said it expects to “soon” obtain a license.
The regulator’s board will be chaired by Jim Murren, the former chief executive officer of MGM Resorts International, WAM said. Kevin Mullally, who has close to three decades of experience in the gaming industry, will be the chief executive officer of the new entity, which will coordinate regulatory activities and manage licensing nationally.
Earlier this year, senior government officials told Bloomberg 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.
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Allowing gambling would be a step change for the UAE where Islamic, or Shariah law, is the main basis for legislation. The practice is prohibited under Islam and is illegal in the country, where offenders can be fined or sentenced to two years in prison, or both.
In April, Wynn Resorts unveiled details of its planned resort off the coast of the UAE. The beach-front Wynn Al Marjan Island will be one of the world’s largest gaming facilities with 1,500 rooms and villas, and is being built in Ras Al Khaimah — an emirate about 45 minutes from Dubai.
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