Chairman Lim Considers UAE Casino Expansion for Genting Group

Chairman Lim is thinking about increasing Genting Group's casino business in the United Arab Emirates.

Lim Kok Thay, the head of Genting Group, has shown interest in creating a casino resort in the United Arab Emirates. At the yearly meeting for Genting Singapore, he said they were thinking about expanding into the UAE, like other big casino companies interested in that area.

UAE's Potential for Genting's Integrated Resorts

• Genting Singapore, part of Malaysia’s Genting Bhd, runs the popular Resorts World Sentosa.
• The UAE market could potentially be bigger than Singapore’s, making it an attractive investment.
• Genting is known for its strong non-gaming offerings, which could be an advantage with UAE regulators.

The company that works in Singapore can use what it knows in the Middle East. Lim, the boss, said they like resorts with a lot of different things to do, not just casinos on their own. This fits well with what the company wants to do.

Regulations and Chances for Growth

The gaming industry in the UAE is still developing. The authority responsible for regulating commercial gaming, the GCGRA, was set up more than nine months ago, but it's still not clear how or when companies can get licenses to run games. Despite this, it's expected that Wynn Resorts might be the first to get a permit for their new Wynn Al Marjan Island project, and Genting might also start operating there, which could mean more competition.

The situation with casino permits in the UAE is as follows.

Companies like Genting are interested in opening casinos in Abu Dhabi and Ras Al Khaimah because these places attract a lot of tourists and seem open to allowing gambling. Dubai, on the other hand, is not yet ready to welcome casinos. Genting might start operating in these emirates if the local laws permit it.

Considerations for Genting

Genting is considering entering the UAE market but will first look at several important factors. The company will pay attention to how well its Resorts World Sentosa is doing in Singapore and will also observe the progress of Wynn Al Marjan Island in the UAE, which could impact the local gaming industry.

It's not certain how the UAE will handle the new casino licenses, but Genting Group under Chairman Lim is preparing to be involved.