The new authority will coordinate regulatory activities and manage licencing nationally
The UAE has created a federal authority to introduce a world-leading regulatory framework for national lottery and commercial gaming, according to state news agency, WAM.
The General Commercial Gaming Regulatory Authority (GCGRA), as the federal authority is known, will create a socially responsible and well-regulated gaming environment while ensuring that all participants adhere to strict guidelines and comply with the highest standards.
The regulatory authority will coordinate regulatory activities, manage licensing nationally and facilitate unlocking the economic potential of commercial gaming responsibly.
“The move to enter the gaming space, opens up a wealth of previously unavailable economic opportunities for the UAE and further enhances the UAE as a destination for international business and travellers,” says Jamie Ryder, partner in the Entertainment & Media Industry Group at Reed Smith.
“With the UAE tourism industry continuing to go from strength to strength following a post-pandemic boom, the potential opportunity in extending its offering to what is proven globally to be a highly profitable industry in an almost entirely underserved region is obvious.”
The GCGRA is led by a team of internationally credentialed leaders, all with proven track records and a deep understanding of global best practices in regulating and maintaining an effective, safe, and responsible gaming industry.
Renowned regulator Kevin Mullally has been appointed as CEO of the GCGRA, bringing more than 30 years of experience in national and international gaming regulation to the federal authority.
“I am delighted to have been appointed as the inaugural CEO of the GCGRA. With my experienced colleagues, I look forward to establishing a robust regulatory body and framework for the UAE’s lottery and gaming industry,” said Mullally.
Jim Murren was appointed the chairman of the authority’s board of directors.
UAE’s gaming ambitions
Meanwhile, the establishment of GCGRA comes a month after Wynn Resorts, which is building a $3.9bn gaming resort in Ras al-Khaimah, said it expects to “soon” obtain a licence.
The emirate signed a multibillion-dollar deal with Wynn Resorts in 2022, which is expected to further boost the country’s profitable tourism industry. The beachfront Wynn Al Marjan Island will be one of the world’s largest gaming facilities with 1,500 rooms and villas.
Wynn Resorts unveiled the design vision of the property in April, which is inspired by the tranquil seascape of Al Marjan Island, a group of four islands.
“We have spent the past year meticulously programming and concepting Wynn Al Marjan Island, carefully considering its unique location,” said Craig Billings, CEO of Wynn Resorts.
“I am incredibly proud of our design and development team’s ability to impart our legacy of rich, thoughtful design into a sun-soaked beachside resort that will delight customers, new and old. We look forward to opening Wynn Al Marjan Island in early 2027.”
The resort is being developed with local partners Marjan and RAK Hospitality Holding.
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