UAE Casino Landscape: A Shift in Momentum?
The prospect of further casino and integrated resort licenses being issued in the United Arab Emirates appears to be diminishing, potentially solidifying one operator’s early advantage in the region.
Construction of its Al Marjan Island project is progressing steadily towards its anticipated 2027 launch, now considered a near certainty.
While the project’s opening hasn’t yet been fully reflected in stock valuations, the reduced likelihood of additional integrated resort licenses being granted in the UAE strengthens the company’s first-mover advantage, potentially by several years.
Although the eventual awarding of a second license is still anticipated and could boost investor confidence, the long-term benefits of an extended head start are likely more significant.
Management is reportedly intensely focused on the Al Marjan Island development, viewing it as a major growth opportunity.
The company is dedicating significant resources to the project, including asset development, selecting appropriate entertainment and non-gaming offerings, understanding the local market, and training staff to meet its standards.
The brand enjoys strong global demand, as evidenced by its recent acquisition of a London casino. The completion of its UAE flagship is expected to unlock further global opportunities.
The company is also reportedly increasing its share buyback program, capitalizing on the opportunity to acquire shares before the UAE development is fully priced in by investors.
Share repurchases are expected to continue at an accelerated rate until the company’s growth prospects in Al Marjan Island are fully recognized.
Stay ahead of the game in the Arabian Online Casino world – get the latest insights at ArabianOnlineCasinos.com.