The United Arab Emirates created a federal entity to oversee gambling. Also, it hired veterans of the US gambling industry to head the new UAE gambling regulatory entity.
The announcement that one of the United Arab Emirates’ seven emirates, Ras Al Khaimah, will establish a nearly $3.9 billion Wynn Resort with a casino put to rest years of speculation that the UAE might legalize gambling. According to pay per head bookie reports, the UAE outlawed gaming across the conservative Gulf area.
The United Arab Emirates’ attempts to legalize gambling comes as economic competition in the Gulf, particularly with Saudi Arabia, heats up. To ensure that the United Arab Emirates remains the region’s commercial, touristic, and financial center, it has implemented a series of progressive law changes.
New UAE Gambling Regulatory Entity
According to WAM, Jim Murren will lead the newly formed General Commercial Gaming Regulatory Authority as chairman and Kevin Mullally as CEO.
Mullally said he and his colleagues look forward to creating a regulatory body and framework for the Emirates’ gambling and lottery industry.
According to sportsbook PPH sources, Mullally spent over seventeen years working at Gaming Laboratories International. The Missouri Gaming Commission, which controls riverboat gaming, previously had him as its executive director. Based on his LinkedIn page, we know that from 2008 through 2020, Murren served as chairman and chief executive officer of MGM Resorts International.
The GCGRA aims to develop a socially responsible and regulated gambling environment. Also, it would ensure that players and operators follow strict guidelines. In addition, the regulator will ensure that operators comply with rules and regulations. According to sports handicapping experts, some responsibilities of the regulator include issuing licenses, unlocking the potential of the gaming industry, and overseeing gaming activities.