The nascent gaming market of the United Arab Emirates seems to be on every executive’s mind right now. Gaming Intelligence speaks with WH Partners and their recently appointed UAE chief executive Kate McCormick to learn more about the market opportunities.
The United Arab Emirates is still years away from opening its first casino resort and the nation’s first lottery only launched at the end of last year, but the market continues to generate strong interest from operators and suppliers, both land-based and online.
Malta-headquartered law firm and advisory services provider WH Partners is looking to tap into this interest with a dedicated office in Dubai and the appointment of McCormick as its UAE chief executive.
McCormick has developed a stellar reputation for helping businesses to capitalise on commercial opportunities in gaming while navigating the risks associated with a highly regulated activity, earning her a place in the Gaming Intelligence Hot 50 of 2023.
She has worked for some of the biggest companies in the industry, including bwin.party (now Entain), Playtech, Superbet and William Hill, to name but a few.
McCormick says the UAE represents a significant opportunity for the gaming industry, both as a market in its own right and as a base for B2B suppliers to serve external markets.
“These are exciting times for the area, and we’ve already seen an increase in interest over the last couple of years.”
Numerous B2B suppliers have already secured licence approval from the UAE’s General Commercial Gaming Regulatory Authority (GCGRA), including the likes of Aristocrat, Novomatic, IGT, EQL Games, Scientific Games, Fennica Gaming, and Random State.
The approvals allow the lottery-focused suppliers to provide their games and solutions to the UAE Lottery, which is operated by Abu Dhabi-based The Game, while the casino suppliers prepare for the opening of Wynn Al Marjan Island in the Emirate of Ras Al Khaimah.
That venue is expected to open in the first quarter of 2027. Meanwhile MGM Resorts and Caesars are also working on new resort projects, although none of these have confirmed a gaming element, yet.
Joseph Borg, Partner at WH Partners and co-head of the firm’s UAE operations, commented: “We have been active for the past three years with an office in Dubai and we have already assisted a number of clients to set up in the UAE, especially in the gambling and fintech space.
“We are positioning ourselves as the go-to advisors in the UAE in relation to gaming and over the years we have established good relations with the GCGRA and the Gambling Directorate within the Ras Al Khaimah Tourism Development Authority, working closely with them on a number of matters.
“We are enhancing our team in the UAE and are very happy that Kate agreed to join our venture there to help us grow in the region,” adds Borg, who is the region’s only IMGL member. “Having worked with Kate for many years, we are confident that she will help us to achieve our goal of becoming the leading gaming advisors in the market.”
The UAE opening up to gaming is a huge step for the industry and promises to be one of the most exciting new market opportunities in years. There are no comparable regulatory frameworks in the region and the UAE’s strong tourism industry provides all of the ingredients for success. This includes an excellent technology infrastructure, talented multi-national workforce, attractive tax regime, and high levels of disposal income.
“There is a very high-quality service infrastructure in the UAE which is key to a successful hospitality industry, and it is a popular jurisdiction which makes it easy to attract and retain top talent,” says Borg.
The Ras al Khaimah Tourism Development Authority is working with the RAKEZ freezone and inviting commercial gaming vendors to set up in RAK, which will become an important jurisdiction for B2B, helping with banking solutions through RAK Bank and accelerating market entry for both commercial gaming and fintech.
“The UAE government has a bold vision for the future,” says McCormick.
For the commercial gaming industry, that future is quickly evolving, with the Lottery live and development of the new Wynn Resort in Ras al Khaimah progressing at a rapid pace.
What comes next remains to be seen. The UAE has a strong tradition of horse racing and, as in all other countries, unlicensed online gambling is already happening through the use of VPNs.
The GCGRA has the authority to issue licences for five categories of commercial gaming.
Entity Licenses
Gaming Operators: Entities operating internet gaming platforms, sports wagering, and land-based gaming facilities, as well as the lottery and lottery retailers.
Gaming-Related Vendors: Suppliers of gaming equipment or related goods and services.
Key Persons – Corporates: Entities holding decision-making roles within the ownership structure of applicants/licensees, including but not limited to controllers, affiliates, or management service providers.
Individual Licenses
Key Persons – Individuals: Individuals holding executive decision-making roles within applicants/licensed entities, including but not limited to directors, executive officers, or controllers.
Gaming Employee: Individuals working for, or otherwise connected with, applicants/licensees
Current UAE licensees
Suppliers: Pollard Banknote, TCS John Huxley, Random State, Fennica Gaming, Scientific Games, EQL Games, Xpoint, IGT, Novomatic, and Aristocrat.
Operators: The Game, Wynn Resorts Al Marjan Island.