Will There Be a Casino in Dubai? What Is Known About the New Project The Island — the Potential Gaming Industry Hub of the UAE
Dubai’s real estate market is preparing for the possible
arrival of the emirate’s first-ever casino resort. Investor interest is fueled
by the construction of the large-scale The Island project, located
between the iconic Burj Al Arab and the upscale Bulgari Resort.
Although the authorities have not yet officially confirmed the issuance of a
gambling license, a combination of factors makes this project one of the most
discussed in the hospitality and real estate sectors.
$2.5 Billion Investment and Global Industry Participation
- Project
cost: $2.5 billion
- Developer:
Wasl Group
- General
contractor: China State Construction
- Operator:
MGM Resorts International — the largest casino company in the United
States
The very presence of MGM in the UAE market has attracted
global investor attention, as the company operates legendary resorts such as Bellagio,
MGM Grand, and Aria in Las Vegas.
What Is Being Built?
The island is planned to include 1,500 hotel rooms
under the following brands:
- Bellagio
- MGM
- Aria
Each of these names is associated with premium leisure, high
occupancy, and consistent tourist flow — inevitably boosting interest in nearby
real estate.
Timeline
- Construction
completion: end of 2027
- Hotel
opening: second half of 2028
The project is progressing at an accelerated pace,
highlighting its strategic importance.
Will There Be a Casino?
MGM CEO Bill Hornbuckle confirmed that an application for a
license has been submitted but not yet approved. Analysts believe that The
Island is one of the top contenders for Dubai’s first license for several
reasons:
- The
UAE regulator is led by former MGM executives.
- Jim
Murren — former MGM CEO
- Bill
Perkins — former MGM chief legal officer
- The
first UAE licence has already been issued.
In 2023, the Wynn Al Marjan casino in Ras Al Khaimah received official approval, marking the beginning of the country’s legal gaming industry. - The
market has huge potential.
The regulator officially announced plans to open four major integrated resorts across multiple emirates. In other words, there will be no monopoly — competition is expected.
What Does This Mean for Real Estate?
After Wynn’s approval, RAK developers actively promoted Al
Marjan Island as the future “gaming hub of the UAE”. But the situation is
changing quickly:
- Ras
Al Khaimah received a 5-year exclusivity period to test the model without
Dubai and Abu Dhabi involvement.
- After
Wynn opens, the regulator will begin granting additional licenses.
- If
Dubai launches a casino under the Bellagio, MGM, and Aria brands, the flow
of tourists and investors may shift toward The Island.
In other words, the market is gearing up for a new growth
cycle. Areas near Burj Al Arab may acquire the status of the most
expensive location in the UAE — making acquisitions in this region potentially
highly profitable.
Investment Conclusion
If a casino opens in Dubai:
- real
estate around The Island may show one of the strongest price increases in
the market;
- demand
from tourists and tenants will grow significantly;
- with
its developed infrastructure and global brand, Dubai has a strong chance
of becoming the main gaming hub of the region.
For now, Dubai is the one collecting the biggest bets at the
“poker table” — and investors are watching every step of this project closely.
