Gambling is a taboo topic throughout the Middle East. It is far from a surprise, though, as it is prohibited by Islam, and with the majority of the population being Muslim, it makes sense why this is the case.
However, with the region becoming more diverse and attractive from a tourism and expat perspective, there have been some changing attitudes to be experienced across this section of the world.
We have already seen the Middle East look to try and become bigger and greater in terms of its global influence, with sports having been a big focus, but it seems gambling could also become something that the region starts to look to accept and bring in more favourable conditions for.
UAE set to make gambling legal?
While there are already numerous people who reside in the Middle East who look for the best Arabic casino sites online available to them who like to gamble and play the games they enjoy safely, it would seem one country in the region is starting to make movements that could potentially change the game forever.
The United Arab Emirates has recently managed to establish an authoritative board at the federal level that could potentially allow them to legalise casinos and other types of gambling in the country in the future. If regulation were to be introduced, it would make them the first nation in the Gulf State to allow these activities, which could encourage others to follow if they prove successful.
The authoritative board that is being created has been introduced to try and set up what is being billed as a “world-leading regulatory framework” that would apply to commercial gaming and the inclusion of a national lottery.
Gambling-related moves have already been experienced in the UAE
The decision to create a regulatory board – which will see Jim Murren take the chair role after his previous role as the former chief executive officer of MGM Resorts International and have Kevin Mullally as the CEO after almost three decades of experience in the gaming sector – should not come as a surprising move by UAE.
Although there have been denials of gambling activities arriving in the country imminently, there have been discussions that have left everyone involved feeling confident that there could be some change on the horizon in the near future.
It also comes with the news that Wynn Resorts Ltd. expect to be able to obtain a license in the near future, too, as they continue to build a gaming resort that is estimated to cost around $3.9 billion.
Could the arrival of the gambling industry add to the UAE economy?
Given the wealth that the Middle East and most of the countries that help to form the region have, money might not always be the very first thing that they think about. However, it has been estimated that around $6.6 billion in revenue can be brought into the country on an annual basis if it were to legalise gambling.
This figure would help put them among one of the biggest in the world, as it would help them to surpass the money that is generated by Singapore, which has the world-famous Marina Bay Sands resort as its biggest earner.