An aerial rendering of MGM’s The Island resort. (Image: MGM Resorts)<\/figcaption><\/figure>\nAfter the MGM project was approved by the UAE\u2019S ruler in March 2017, progress slowed considerably. It was not until earlier this year, in fact, that a construction contract was even awarded.<\/p>\n
However, Hornbuckle told the crowd that the project is back on track, though he did not provide an opening date and said there are no plans to include the casino that MGM had hoped to build.<\/p>\n
Hornbuckle held out hope, though.<\/p>\n
\u201cOnce you get there and gaming is socially accepted — not for Emiratis by the way — but 80-90% of the [UAE] population are non-Emirati. India is a massive market, the rest of the Middle East could be massive, China will continue to come to Dubai, so we\u2019re excited by what it presents and we hope to be there,\u201d he told the crowd.<\/p>\n
The Middle East has long frowned on gambling, which is forbidden under Islamic law. However, competition for tourism from Saudi Arabia and Qatar has softened official attitudes. Last September, the UAE formed the General Commercial Gaming Regulatory Authority to create and oversee a framework for casino gambling.<\/p>\n
Hornbuckle told the convention that The Island calls for \u201cseveral podiums which in fact, [is where] Dubai wants gaming,\u201d in case UAE leaders decide to allow it.<\/p>\n
MGM is developing the project with Wasl Hospitality and Leisure, a Dubai-based hotel owner and developer with ties to UAE leaders.<\/p>\n
MGM\u2019s history with Dubai goes back to 2007, when a Dubai World subsidiary purchased a 50% stake in CityCenter to help MGM absorb its $8 billion cost. In 2021, MGM said it bought back Infinity World\u2019s half stake for $2.125 billion.<\/p>\n