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The UAE government is ready to launch a new federal authority to regulate online lottery businesses or “commercial gaming.” This will allow the gambling industry to flock to Gulf Arab nations under the regulations.
The UAE designed a federal authority to regulate online casino games to enhance the gambling industry under the regulations. They describe the online lottery programmes as “commercial gaming” and depict it as a sign for major casino operators to spread around the Gulf Arab nation. They also disclosed Kavin Mullally as the CEO of the newly created Gaming Regulatory Authority. Mullally previously served as the director executive of the Missouri Gaming Commission, which manages the US state’s bottom-line casinos. Mullally said, “I am delighted to have been appointed as the inaugural CEO of the GCGRA. With my experienced colleagues, I look forward to establishing a robust regulatory body and framework for the UAE’s lottery and gaming industry.”
Jim Murren, the former CEO of MGM Resorts International, which runs various casinos under its umbrella, has also joined the board of directors as the chairman. In the past, Murren worked closely with Emirates officials. Under Murren, the $9.2 billion CityCenter collaboration between MGM Resorts International and Dubai World materialised in 2009. It was the largest single development on the Las Vegas Strip. The state-run news agency stated it would “create a socially responsible and well-regulated gaming environment, ensuring that all participants adhere to strict guidelines and comply with the highest standards. It will coordinate regulatory activities, manage licensing nationally and facilitate unlocking the economic potential of commercial gaming responsibly.”
Casinos are vital in increasing tourism in the UAE, especially in Dubai. This is considered an essential way for the UAE to grow its economy. However, casinos and online gaming raise the alarm of money laundering because of the large amount of cash flow they create. Dubai’s lenient attitude towards US sanctions makes its real estate a haven for drug traffickers, money launderers, and terror financiers.
UAE RECEIVES OBSERVER STATUS AT APG FOR MONEY LAUNDERING