Wynn Resorts, one of the world’s largest high-end hotel developers and operators, has issued an official statement confirming that their upcoming resort in Ras Al Khaimah, located in the United Arab Emirates, will contain a gambling establishment.
Wynn Resorts’ CEO Spoke About The Project
The Chief Executive Officer of Wynn Resorts, Craig Billings, stated that the casino at the new integrated resort that will be called Wynn Marjan would have a much larger scope than that of Wynn Las Vegas, the operator’s crown jewel in the United States.
Details about the Wynn Marjan resort were made public for the first time in 2022, and all 1000 rooms are expected to be ready to accommodate guests in Ras Al Khaimah in 2026. Only now, however, do we have unequivocal proof that the resort will be the first in the United Arab Emirates Gulf Cooperation Council region to offer gambling establishments like casinos.
The CEO even stated that the Marjan and the United Emirates Project are the main focus of Wynn Resorts’ complete design and development power, working tirelessly to ensure they get this highly lucrative opportunity right from the get-go. However, while acknowledging that the region is a significant luxury and leisure market, Billings also admitted that the casino aspect of the resort is one of many focus points.
The Wynn is currently in the final stages of construction planning and will release more details in 2023. Supposedly the location should be flexible for whatever Wynn is planning since the site will be on an artificial island without any pre-existing structures.
The Nation’s Laws Make This A Success For Wynn
The resort’s planning has piqued the interest of many investors and people in the gambling industry because it will be built in the UAE and operated under strict Islamic laws.
These laws give gambling and any activities related to it adverse treatment, and the GCC has been hesitant to allow any loopholes up to this point. Because of this, there was some uncertainty regarding whether or not Wynn Marjan would have a gambling area. However, the CEO of Wynn has stated that the group appreciates the importance and opportunity of the Marjan being the only resort of its kind in the region to offer casino services and confirmed they intend to build the resort large enough for the activities and attractions not to become stale.
Gambling In The UAE Today
Due to the strict anti-gambling laws, many people living in the Arab Gulf countries gamble online at offshore operators. However, this is a legal grey area, and there are frequent attempts by government authorities to block local citizens from accessing these overseas sites.
With the help of VPNs and anonymous banking options, many UAE citizens register at operators licensed in Malta or the UK. Moreover, websites catering to Arab gambling, such as 7alalcasino.com, list the operators with customer support, payment options, and promotions in Arabic. There is no shortage of bookmakers or online casinos in Arabic on the internet, but it still needs to be determined whether local citizens can gamble at the new Wynn resort.
An Opportunity For The Country And Other Investors
It will also be interesting to see if Caesar’s Palace, which has a resort in the region without a casino, will try to build a gambling venue adjacent to the resort. MGM is also building a nearby resort, reportedly without a casino. One thing for sure is that there will be many eyes on these two giants to see what their next step will be once Wynn opens their casino venue. More than this, it’s inevitable that other investors and developers will be looking to get the necessary green light to open other casino venues.
Ras Al Khaimah’s Tourism Authority representative Raki Phillips has also presented positive feelings towards Wynn Resorts’ plans and believes that it will significantly boost the tourism and hospitality sectors and create new jobs for locals. The fact that Wynn is even planning the casino featured at the Marjan to be even bigger than their flagship venue in Las Vegas shows just how high the hopes are from both sides that this may be a door-opening event for many future other developments in the region, and perhaps it will result in a shift in attitude towards gambling in the area.
India: Six People, Including Cops, Arrested After Ranchi Police Busts Illegal Gambling Den
Six people, including cops, were arrested after the Ranchi Police busted an illegal gambling group in the Gonda area of Jharkhand’s capital.
In recent news, six people, including cops were arrested after the Ranchi Police busted an illegal gambling den in the Gonda area of Jharkhand’s capital. Acting on the received information, a police team raided the spot. Reportedly, a sum of five lakh rupees was seized from the accused.
BJP State President Babulal Marandi raised his concern over the incident, emphasising on the involvement of police personnel stationed at CM Hemant Soren’s residence in the gambling operation. Marandi suggested that there might be pressure on the police, leading to potential manipulation of the case.
He even took to his official handle on X (formerly Twitter), to express his worries over the state’s leadership being involved in wrongdoings. He also questioned where the money earned from the gambling activities was going.
The station in-charge Ravi Thakur confirmed the arrests. A detailed investigation into the matter is underway. The illegal gambling activities were reportedly ongoing in the police like area for several days. Upon receiving the information about the illegal gambling den, Ranchi SSP formed the team who conducted the raid.
Genting Berhad Reports Group Revenue of $1.57 Billion for Q3 2023
Genting Berhad has posted its financial report for the third quarter of 2023, highlighting a 20.39% increase year-on-year in its group revenue to RM7.37bn ($1.57bn).
This improved performance in the group’s revenue was contributed mainly by the Leisure & Hospitality Division continuing to recover.
There was a significant increase in the group’s net profit from the previous year’s third quarter results, seeing them go up 177.16% to RM995m.
EBITDA also saw an increase, going up from RM2.06bn in the third quarter of 2022 to RM2.73bn in the third quarter of 2023, representing an increase of nearly 33%.
Resorts World Sentosa continued to benefit from the sustained recovery of travel and tourism within the region, seeing both revenue and EBITDA increase, while Resorts World Genting recorded higher revenue this quarter due to a higher volume of business registered by its gaming and non-gaming segments; owing to the relaxation of border control as compared to Q3 2022.
Genting mentions that its financial performance for the rest of the 2023 financial year may be impacted by a number of factors, including the continuation of domestic demand employment growth; and the regional gaming market is expected to continue its recovery as airline capacity and air connectivity in the region improves.
The report also mentions that Resorts World Sentosa has collaborated with a local charity organisation called Food from the Heart to fund, to enable the distribution of fresh, locally sourced produce to 2400 underprivileged families across the island over the next three years.
PAGCOR SCORES 99.46% IN GCG 2022 PERFORMANCE EVALUATION SYSTEM
The Philippine Amusement and Gaming Corporation (PAGCOR) recently received formal recognition from the Governance Commission for GOCCs or GCG for achieving a score of 99.46% in its annual Performance Evaluation System (PES) for 2022.
The score is one of the highest in the history of PAGCOR and was achieved on the first year under the leadership of Chairman and CEO Alejandro H. Tengco, who was appointed by President Ferdinand Marcos Jr. in August 2022.
PAGCOR’s score in the 2021 PES was 98.08%, while in 2020 it was 91.38%.
The award for 2022 was received by PAGCOR President and COO Atty. Juanito L. Sañosa during the inaugural GOCC Governance Awards Ceremony on November 20, 2023 at the PICC Complex in Pasay City.
Atty. Sañosa said the award elevated PAGCOR to the ranks of the best performing GOCCs in the country.
“This is truly another proud moment for PAGCOR. While this award serves as a validation of our efforts and hard work, it also inspires us to continuously exceed our past accomplishments – all in the service of our country,” he said.
The PES award is a recognition of the unwavering dedication to the highest standards of accountability and efficiency among government-owned and controlled corporations.
In the GCG report, PAGCOR garnered perfect scores in the following categories: Increased Contribution to National Government Coffers and Nation-Building Efforts; Increased Gross Gaming Revenue of the Industry; and Increased Revenue of PAGCOR; among others.
In his keynote speech during the awards ceremony, Executive Secretary Lucas P. Bersamin said GOOCs contributed Php48.68 billion in dividends in 2022, funding some of the most vital government socio-civic projects such as infrastructure, health, education, and others.
“It is beyond question that GOCCs are significant tools in adjuring inclusive economic growth and development for 2022. The Bureau of Treasury recorded Php48.68 billion dividends coming from different GOCCs that are covered under Republic Act 10149,” Bersamin noted.
In a statement, GCG Commissioner Atty. Brian Keith F. Hosaka encouraged all GOCCs to work closely together in making the GOCC sector a prime driver in delivering effective and efficient progress for Filipinos.
Aside from PAGCOR, twelve other GOCCs received awards for achieving the highest Corporate Governance Scorecard (CGS) ratings in 2022 while three bagged the CGS Hall of Fame.
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