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:

1. The UAE regulator is led by former MGM executives.
• Jim Murren — former MGM CEO
• Bill Perkins — former MGM chief legal officer
2. 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.
3. 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.