Luxury Resort Taking Shape in Ras Al Khaimah

A major resort development in Ras Al Khaimah, UAE, is reportedly making significant progress, with projected gaming revenues estimated to reach between $1 billion and $1.66 billion.

Ambitious Projections for the UAE Market

These figures are based on an anticipated UAE market size of $3 billion to $5 billion, with the resort aiming for a substantial market share. The projections consider the potential licensing of additional integrated resorts in Dubai and Abu Dhabi.

Projected Costs and Timelines

The resort, now slated for a “pre-opening” in the first quarter of 2027, is expected to cost $5.1 billion, a notable increase from previous estimates. Financing is being secured through a combination of equity contributions and debt facilities.

Strategic Land Acquisition

The development company’s acquisition of additional land on Al Marjan Island suggests a commitment to long-term expansion and development within the UAE.

UAE Gaming Industry Potential

Industry analysts predict that the UAE gaming sector could generate substantial revenue in the long term.

Joint Venture Structure

The resort is being developed as part of a joint venture, with the development company holding a significant equity ownership stake.

Beyond Gaming: A Comprehensive Resort Experience

The resort anticipates that its non-gaming amenities, including hospitality, retail, and food and beverage offerings, will contribute significantly to its overall revenue, capitalizing on the UAE’s appeal to affluent tourists and residents.

Public Sentiment

Surveys indicate a high level of acceptance for integrated resorts within the UAE and the broader GCC region.