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New Jersey and UAE gaming regulators sign agreement

By Megha Merani
People stroll past multiple casinos on the famous boardwalk in Atlantic City, New Jersey. The US state and the UAE are focusing on 'cybersecurity and consumer protections' Jon Bilous/Alamy via Reuters
People stroll past multiple casinos on the famous boardwalk in Atlantic City, New Jersey. The US state and the UAE are focusing on 'cybersecurity and consumer protections'
  • MoU to help ‘innovate gaming’
  • US state home to Atlantic City casinos
  • UAE sector could be worth $8.5bn

The US state of New Jersey, home to Atlantic City’s casino resorts, signed a landmark agreement this week with the UAE’s gaming regulator.

The agreement comes as MGM Resorts International, a major Las Vegas casino operator, held meetings about its upcoming projects in the emirates.

The memorandum of understanding was signed in Abu Dhabi on Wednesday between New Jersey’s Division of Gaming Enforcement (DGE) and the UAE’s General Commercial Gaming Regulatory Authority (GCGRA), which was set up last year with exclusive federal oversight of the sector.

“New Jersey’s role as a national leader and international destination for gaming is strengthened by global partnerships that drive innovation in an industry where consumers seek exciting experiences,” governor Phil Murphy, who signed the deal in Abu Dhabi during a broader economic mission to the Gulf, said in a press statement. 

According to the statement, the MoU “creates a partnership between each region’s gaming regulators to innovate land- and internet-based gaming with a focus on cybersecurity and consumer protections”.

“The collaboration between the DGE and GCGRA will strengthen our international economy while prioritising responsible gaming,” Murphy said.

New Jersey’s online gaming industry has seen record growth during Murphy’s tenure. Since he took office, total gaming revenue in the state has more than doubled, solidifying its position as a national leader in the rapidly evolving sector.

“Commercial gaming is a key pillar of the UAE’s strategy for diversified economic growth,” GCGRA CEO Kevin Mullall, was quoted as saying. 

Real estate consultancy CBRE estimates that legal gambling could generate $8.5 billion annually for the UAE.

New Jersey’s Atlantic City is the second biggest casino market in the US, earning nearly $6 billion in 2024, compared to about $9 billion by those along Nevada’s famous strip.

While gambling remains prohibited under UAE federal law, Las Vegas operator Wynn Resorts is already developing a $5 billion resort on Ras Al Khaimah’s Al Marjan Island that’s expected to feature the country’s first legal casino when it opens in 2027.

In October 2024, Wynn said it secured the UAE’s first commercial gaming licence from the GCGRA. This licence grants Wynn an exclusive 15-year term for casino operations in Ras Al Khaimah, the company confirmed in an investor update last year. 

Wynn projects annual gross gaming revenue between $1 billion and $1.7 billion from its Ras Al Khaimah resort, based on a UAE market potential of $3 billion to $5 billion. 

The CEO of rival Las Vegas operator MGM Resorts International, Bill Hornbuckle, told analysts during an earnings call on Wednesday that company executives had recently visited the UAE to meet local leaders and update them on a beachfront development in the emirate, which will feature three Las Vegas hotel brands: MGM, Bellagio and Aria.

“[The] key mission was to see the prince and to update him on our project … the potential gaming we could bring to not only the UAE, but Dubai specifically,” Hornbuckle said.

“It was a great conversation. They haven’t said yes. They haven’t said no. We are building an environment that can accommodate it.

“And that building is due to complete, third quarter of ’27. We’re literally up on the fifth floor of the MGM Tower as we speak.”

Announced in 2017, MGM’s $2.5 billion Dubai project is a part of Wasl Asset Management Group’s The Island megaproject. 

The resort is due for completion in the third quarter of 2027, Hornbuckle said.

Hornbuckle said MGM’s delegation – which included IAC chairman Barry Diller and other board members – received a warm reception during their visit, but stressed that any decision on gaming ultimately rests with the emirate’s leadership.

“Hopefully, we’ll get to add gaming. But the ball truly now is in their court,” he said.

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