According to local media reports, Wasl, a local developer in the UAE, announced that it would build a Las Vegas-style island - The IslandChina Construction Group Corporation (CSCEC) has won the construction contract for the large-scale real estate development project, with a contract value of 44 billion dirhams (about 12 billion US dollars), which is also the largest construction contract in Dubai since 2017.
The Island is located in the Jumeirah area of Dubai. It is an artificial island with an area of about 10.5 hectares. It is adjacent to the Burj Al Arab, Jumeirah Beach Hotel and public beaches. It mainly develops high-end hotels and entertainment consumption supporting facilities. It will have more than 1400 hotel rooms, suites and apartments. It has been determined to introduce famous Las Vegas hotel brands.MGM, Bellagio and Aria.
Although it has not been explicitly stated that a casino will be opened on The Island, since MGM Resorts is well-known for its gambling industry, the market expects that if the UAE passes a resolution to expand the scope of legalization of the gambling industry in the future, there is a high possibility that a casino will be opened on the island.
Earlier this year, the UAE establishedGeneral Commercial Gambling Regulatory Authority (GCGRA), responsible for regulating domestic commercial gaming and national lotteries.
This month, MGM President and CEO William Hornbuckle said the island project with Wasl was under construction.
“In Dubai, our partner Wasl is building a luxury development that includes 1400 hotel rooms... We do see huge opportunities if gaming is legalized,” he said on a call with investors.
