UAE’s ₹33,000 Crore Casino Takes Shape As Emirates Looks To Diversify Its Revenue Sources

Gambling and establishments that support and aid or act as organised platforms for the act, i.e., casinos, have often gathered a negative connotation globally. This is because of the pecuniary risks involved; such activities could bring harm to an individual and their finances.

UAE’s First Casino

However, although gambling and casinos are generally frowned upon, many territories around the world source their major revenue through setting up towns and cities that revolve around such establishments, developing a whole economy through it.

Macau, a special administrative region in China, or Las Vegas in the United States are some popular examples of the same. Now, trying to tap into the potential, the United Arab Emirates (UAE) is now venturing into the realm.

The Emirates, like many petro-monarchies, has tried to diversify its economies and turn its territories more inviting to foreign nationals through major reforms. Saudi Arabia and its recent changes, from permitting women to drive to its first establishment selling alcohol, are signs of this.

The UAE, however, has been far ahead in this game, as the country does not produce as much fossil fuel as its neighbours.

As per reports, UAE is furthering its said diversification by adding this new horizon of revenue through casinos. According to reports, the Emirates’ first casino resort has attained 55 per cent completion. The work on the 300-meter-high tower has been completed.

For context, the tallest tower in the world, Dubai’s Burj Khalifa is 838 metres tall.

A Rs 33,000 Crore Project

This is one of the most unique projects carried out, as the resort in based on an island.

This resort casino is a major move in the country, which is a Muslim majority state. For this the government has had to relax its laws in order to make this project a reality.

Fast forwarding the process, in July 2024, the Emirates which includes Dubai, Abu Dhabi, Sharjah, Ajman, Umm Al-Quwain, and Fujairah and Ras Al Khaimah established its rules and regulations for commercial gaming in the country.

To oversee the avenue the UAE also set up the General Commercial Gaming Regulatory Authority.

The project is being brought to fruition by Las Vegas-based casino operator Wynn Las Vegas. The project is estimated to be worth a staggering Rs 33,000 crore.

This is resort is called the ‘Wynn Al Marjan Island.’ This project is located in the Ras Al Khaimah region of the UAE. Ras Al Khaimah is situated just over 110 kilometres away from Dubai.

The 18,500 square-meter casino in it will be one of the largest casinos in the world. This behemothian casino will have 1,542 rooms and suites.

When it comes to commercial establishments, reports claim that it will also have 22 restaurants, lounges and bars.

The resort is expected to be open by 2027. A total of over 9,000 workers will construct one floor every week.

When it comes to what it could do to the Emirati economy, this project is expected to contribute 1.3 per cent to the total GDP of the UAE. This would be achieved by a large number of foreign tourists, who are expected to arrive in this casino resort.

Authorities expect to attain an annual income of close to Rs 60,000 crore from the resort, which doubles the cost of construction.

Gambling Laws In India

Looking at the staggering numbers, one may wonder, what the casino in India is like. In India, the majority of gambling activities are strictly regulated. There are several exceptions to this rule as avenues such as lotteries and horse racing are outside extensive scrutiny.

In India, The Public Gambling Act, of 1867 governs these avenues of polices. The act looks into and proscribes owning, keeping, occupying, or having care and management of a gaming house/common gaming house.

Gambling in a common gaming house or being present for gambling in a common gaming house is prohibited.

Along with that, furnishing or advancing money for the purpose of gambling to persons frequenting any such gaming house is also prohibited.

Casinos In India

Given the nature of the field, casinos or the establishment of such institutions are legally limited to three territories in India. These are the state of Goa, Sikkim and the Union Territory of Daman.

In addition, this being a state subject, states in India have the power to legislate according to their requirements.

Goa has the most number of Casinos in the country, with a total of 10 such establishments. It is followed by Sikkim with 2 and Daman with a solitary casino, with its Deltin Hotel and Resort.