Here's Why Wynn Resorts Is Gambling $3.9 Billion On The UAE
Автор: Forbes Life
Загружено: 2024-11-13
Просмотров: 103077
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With its first casino resort set to open in 2027, a little-known emirate is suddenly an unlikely hot gaming market. Here’s how the U.S. casino giant made a high-stakes bet on its future—and left Abu Dhabi, Dubai and other casino operators in the dust.
Wynn Resorts CEO Craig Billings raised eyebrows a year ago when he told investors that the United Arab Emirates was the “the most exciting new market opening in decades.” Outside of Egypt and Lebanon, casinos are practically nonexistent in the Middle East, since majority Muslim countries typically ban gambling. Even more intriguing: At the time Billings was enthusing about the UAE’s gaming future, the kingdom had exactly zero casinos. It didn’t even have a gaming authority.
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