A recent meeting with Dubai’s deputy ruler suggests that MGM Resorts may be shifting its focus towards developing an integrated resort in the largest city of the United Arab Emirates.
MGM Resorts initially appeared to concentrate on a casino project in Abu Dhabi, with CEO Bill Hornbuckle hinting last September that a proposal had been submitted for the emirate. However, recent statements made by Hornbuckle during the company’s Q1 earnings call indicate that Dubai, where MGM is constructing a facility without gaming, could be a potential target.
Diversified hotel and entertainment company MGM had a recent meeting with Maktoum Bin Mohammed, the deputy ruler of Dubai and the emirate’s deputy prime minister and finance minister. Other attendees included MGM Chair Paul Salem and Barry Diller from IAC, MGM’s largest shareholder.
Exploring the Potential for Gaming in Dubai
This visit drew attention from Barry Jonas at Truist, who brought it up during the earnings call. In response, Hornbuckle clarified that the purpose of the meeting was to update the prince about MGM’s project in Dubai. MGM has collaborated with Wasl Hospitality and Leisure since 2017 on a two-million-square-foot development on Jumeirah Beach, which is set to feature over 1,400 hotel rooms under MGM, Bellagio, and Aria brands, but does not currently incorporate any gaming facilities.
“The main goal was to meet with the prince and provide updates on our project, emphasizing the opportunities it could generate,” Hornbuckle explained. “This includes not only the concept of a fully integrated resort but also the gaming possibilities that could benefit the UAE and specifically Dubai in terms of entertainment and unique offerings.”
“It was a productive conversation,” Hornbuckle added. “The decision is completely in their hands.”
Although the UAE has a federal governing agency for gaming, the General Commercial Gaming Regulatory Authority (GCGRA), Hornbuckle noted that the regulations allowing gaming can vary between emirates.
Uncertainty Surrounds Dubai’s Casino Plans
As the capital of the UAE and its most populated emirate, Dubai has not yet announced any decisions regarding gaming regulations. “They have neither confirmed nor denied it,” Hornbuckle stated. “We are creating an environment that could accommodate it. The building is expected to be completed in the third quarter of 2027.”
Construction of MGM’s facility on Jumeirah Beach began in 2024 and is projected to finish in the third quarter of 2028, according to PropSearch.ae.
“It’s an exciting project with many interesting features,” the MGM CEO remarked. “We hope to include gaming in the future.”
MGM: Potential Shift from Abu Dhabi to Dubai?
Wynn is already constructing the first integrated resort in the UAE in Ras Al-Khaimah, slated to open in 2027, prompting speculation regarding which operators might follow. MGM had previously expressed interest in breaking into the market and hinted at a preference for Abu Dhabi, with Hornbuckle previously suggesting that the capital “might lead the way” since the GCGRA is located there.
However, Jim Murren, chairman of the GCGRA and Resorts World Las Vegas, indicated no rush to expand the market beyond Wynn’s venue. Speaking at the Skift Global Forum East last November, he mentioned that the process has been progressing “very deliberately” and that market expansion would not be hastened. Other licenses would emerge “in the next five to 10 years,” he noted, with Wynn currently holding a significant advantage.
IGT Becomes the Latest Supplier to Obtain UAE Gaming License
While only Wynn and the UAE Lottery, managed by The Game LLC, have been granted operational licenses thus far, supplier licenses have been issued at a quicker pace. So far, seven gaming-related vendor licenses have been allocated, with IGT recently joining the ranks of Novomatic, Aristocrat, and EQL Games.
GCGRA Enhances International Cooperation through MoU with NJDGE
This week, the GCGRA signed a cooperation agreement with New Jersey’s Division of Gaming Enforcement, establishing a memorandum of understanding aimed at collaborating on consumer protection, cybersecurity, and responsible gaming technology.
“As a leader in gaming regulation, DGE is thrilled to partner with GCGRA to share knowledge on technological advancements, cybersecurity, and responsible gaming practices,” commented New Jersey Division of Gaming Enforcement interim director MaryJo Flaherty.
“Commercial gaming plays a vital role in our vision for diverse economic growth, significantly enhancing tourism and attracting foreign investment,” added Kevin Mullally, CEO of GCGRA.
Governor Phil Murphy of New Jersey stated that GCGRA’s vision aligns with the state’s leading market position in gaming regulation. He emphasized that this collaboration would foster innovation, strengthen consumer protections, and generate economic opportunities in both regions.
MGM Resorts’ stock rose by 2.54% to $31.62 per share on Friday morning in New York.