CBRE predicts smooth path to gambling in UAE
CBRE analyst John DeCree believes the roadpath to casino gambling in the United Arab Emirates will prove quicker than those in New York and Japan, creating one of the most appealing gaming opportunities in the world.
Mr DeCree said: “We anticipate an operator-friendly environment given the country’s progressive approach to attracting investment and tourism. We expect an efficient regulatory process, unlike other jurisdictions such as New York and Japan that have been riddled with delays and setbacks. This, coupled with a favorable long-term economic growth outlook and very limited competitive gaming supply in the region, make the UAE a very attractive IR opportunity.”
Wynn Resorts is, of course, building a $3.9bn integrated casino resort on Al Marjan Island in Ras Al Khaimah, set to open in 2027. Mr DeCree predicts strong returns from that project due to high property margins and a better focus on non-gaming amenities than Macau and perhaps even Singapore.
