Chairman Lim of Genting Shows Interest in Establishing a Casino in the UAE

Genting Group Eyes Potential Entry into UAE Casino Market

In a bold move that could reshape the global gaming landscape, Genting Group is considering pursuing entry into the United Arab Emirates (UAE) if casino resorts are approved in the region. The announcement was made by Genting Chairman Lim Kok Thay at the company’s annual meeting last month, sparking speculation about the potential for a new player in the lucrative UAE market.

Genting Singapore, a unit of Malaysia-based Genting Bhd, currently operates Resorts World Sentosa in Singapore, one of the city-state’s two casino resorts. Lim Kok Thay indicated that the company’s expansion plans could include the UAE, as well as Thailand, highlighting the potential for growth in the region.

While details about Genting’s specific plans for a UAE project are still unclear, Lim expressed the company’s willingness to work on an integrated resort (IR) development in the Middle East, leveraging its expertise in non-gaming offerings. This strategic approach aligns with the trend of focusing on diversified entertainment options in casino resorts, rather than relying solely on gaming revenue.

Despite the potential for new casino developments in the UAE, Lim downplayed the likelihood of an international tender for a casino-only project, suggesting that operators would need to follow a model similar to that of Wynn Resorts. Wynn is currently working on the Wynn Al Marjan Island integrated resort in Ras Al Khaimah, in partnership with local companies Marjan LLC and RAK Hospitality Holding LLC.

Genting’s strong track record in non-gaming offerings could position the company favorably with regulators in the UAE, where there is a growing emphasis on creating integrated resorts that offer a wide range of entertainment options. The expected regulatory requirements for casinos to be a smaller part of larger resort complexes could play to Genting’s strengths in developing diverse attractions.

While Abu Dhabi and Ras Al Khaimah are seen as the most likely emirates to approve casino projects, Dubai, a major tourist destination in the UAE, has been more cautious in embracing casino gaming. However, industry observers believe that the UAE market has the potential to surpass Singapore’s in size, making it an attractive prospect for operators like Genting.

Despite the promising opportunities in the UAE market, there are still uncertainties surrounding the regulatory framework for gaming licenses. The General Commercial Gaming Regulatory Authority (GCGRA), established over nine months ago, has yet to provide clarity on the licensing process and timeline for approvals.

As expectations mount for potential developments in the UAE gaming sector, Genting and other operators are closely monitoring the situation to position themselves for success in this emerging market. With the potential for significant growth and competition in the region, the race to establish a foothold in the UAE casino market is heating up, setting the stage for a new chapter in the global gaming industry.