At the recent SBC Lisbon conference, a panel of industry experts discussed the promising future of the newly regulated gambling market in the United Arab Emirates (UAE).
The panel, which included Kevin Mullally, CEO of the General Commercial Gaming Regulatory Authority (GCGRA), and other key figures from the industry, shed light on the regulator’s approach to fostering a transparent, innovative, and safe gaming environment.
Lauralyn Sandoval, Vice President of Gaming Strategy and Business Development at Aristocrat, praised the GCGRA for its diligent process in creating a framework that encourages growth while ensuring transparency.
Mullally emphasized the regulator’s commitment to a collaborative approach, likening the process to a doctor’s visit, where regular check-ins on the market’s vital functions are necessary to maintain a healthy ecosystem.
He stressed that any issues that arise will be addressed collaboratively, taking into account the diverse opinions of operators and regulatory bodies.
“We want innovation to lead and regulation to adapt,” Mullally stated, underscoring the GCGRA’s intention to create a data-driven regulatory environment that prioritizes player protection.
David Patent, EVP at Wynn Al Marjan Island, highlighted the unique opportunity presented by starting from scratch in the UAE. He explained that this has allowed Wynn to take a fresh and boundless approach to innovation and investment in their casino offerings.
Christina Hu, Chief Strategy Officer at Momentum, echoed this sentiment, noting that as the first to be granted a lottery licence, their entire operation in the UAE is homegrown, with a strong focus on technology.
The panel also addressed the issue of illegal gambling. Mullally revealed that the GCGRA has already shut down over 6,000 illegal websites and is committed to a relentless and collaborative approach to combatting unlicensed operators.
Patent added that the land-based strategy is to create a more attractive and creative option for players than the illegal market.
The panelists at the SBC Lisbon Conference concluded that the UAE’s unique geographical location, connecting three continents, presents an unparalleled opportunity for the global gaming industry.
