Luxury Resort Giant Eyes Expansion in the Middle East

A major player in the luxury resort and casino industry is making a significant move into the United Arab Emirates (UAE), citing a potentially lucrative market.

Untapped Potential in the UAE

The company secured the first commercial gaming operator’s license in the UAE last year, paving the way for a new venture. Industry analysts estimate the gaming market in the region could reach between $5 and $8 billion, rivaling the revenue generated by the Las Vegas Strip.

A Focus on Affluence and Population

The resort company is strategically targeting the UAE’s wealthy population. The project is currently under construction, with the exterior rising at a rate of approximately one floor per week. The resort will boast roughly 1,500 rooms and a wide array of dining and beverage options.

London Expansion: A Strategic Move

In addition to the UAE project, the company is expanding its presence in London. This acquisition, while smaller in financial terms, is considered strategically important. It will provide valuable customer data from the region and further support the UAE business, as many UAE residents frequently travel to London.

Other Ventures Under Consideration

The resort company is also exploring potential opportunities in other markets, including the possibility of developing new casinos in Las Vegas and considering entering the market in Thailand.

Customer Base Remains Strong

Despite concerns about inflation and the broader economic climate, the company reports that its customer base remains resilient. The company’s clientele is generally more influenced by market performance.