The United Arab Emirates (UAE) emerges as an enticing domain for gaming enthusiasts and discerning investors alike, as per findings from CBRE Institutional Research. Recently, the equity and credit teams from CBRE Institutional Research embarked on a journey to the UAE, delving into the burgeoning gaming scene, dissecting its complexities, and crafting a compelling narrative for potential investments. Across Abu Dhabi, Dubai, and Ras Al Khaimah, their expedition unveiled a region brimming with potential and opportunities waiting to be seized.
A prosperous oasis: the UAE gaming scene:
Renowned for opulence and grandeur, the UAE boasts a robust tourism industry characterized by extravagant spending and a predilection for luxury. Coupled with a business-friendly environment and top-tier infrastructure, the stage is set for an unparalleled gaming revolution in the Middle East. The absence of significant gaming competition only serves to heighten the allure, painting a portrait of vast, untapped potential awaiting exploration.
Venturing into the heart of the UAE’s gaming landscape, according to Asia Gaming Brief, investors are greeted with a plethora of insights and prospects. From regulatory advancements to the Total Addressable Market (TAM) for gaming, each aspect provides a glimpse into the promising future of the region.
The wheels of commercial gaming regulation are already in motion, signaling the imminent arrival of gaming to the UAE. Expect a regulatory framework conducive to operators, offering favorable terms regarding gaming tax, exclusivity, and licensing.
With a projected Gross Gaming Revenue (GGR) TAM of $8.5 billion, propelled by a thriving tourism market and latent gaming demand, the UAE presents a tantalizing prospect for investors. However, market growth may be tempered by supply constraints.
Often overlooked, the margin potential in the UAE gaming sector is substantial, estimated to exceed 50 percent. This figure, surpassing consensus estimates, underscores the untapped profitability awaiting savvy investors.
Flagship ventures: the rise of Wynn Al Marjan Island:
The inaugural Integrated Resort (IR), Wynn Al Marjan Island, stands as a beacon of success in the UAE’s gaming landscape. Forecasts suggest significant GGR, robust non-gaming revenue, and substantial EBITDARM, painting a picture of financial prosperity for stakeholders.
According to a new report by CBRE Institutional Research, as Inside Asian Gaming reports, a US$4 billion integrated resort being developed by Wynn Resorts on Al Marjan Island in the United Arab Emirates is projected to generate gross gaming revenues of US$1.38 billion annually, with net revenues reaching US$1.8 billion. Analysts foresee a rapid ramp-up for the property in Ras Al Khaimah due to the current lack of gaming supply in the region.
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