Expert analysis on UAEs groundbreaking advancement in the gaming sector
The pioneering initiative that has just been announced by the UAE signifies a transformative shift for the gaming industry in the MENA region and indicates that the UAE is cultivating the road to a clear, equitable, and well-regulated gaming space.
Dr. Joseph F. Borg, a trusted voice in the gaming industry and co-head of WH Partners UAE desk, has long been providing insightful commentary on the evolving regulatory landscape in the United Arab Emirates.
Today, he shares his thoughts with SiGMA News on this landmark development that is set to redefine the gaming industry in the UAE – the regulation of the country’s national lottery.
Dr. Borgs astute analysis helps us to understand the implications of this major announcement and its potential impact on the future of gaming in the UAE. Borg said that this indeed is the beginning of a significant shift which is led by the Gaming Regulatory Authority (GCGRA) in the Middle Easts gambling industry. He explained that GCGRAs main objective is to issue licences to integrated resorts, starting with Wynn in Ras Al Khaimah.
“Although the exact parameters of the framework are not yet public, there is no doubt that this is only the first step of the transformation of the gambling industry in the Middle East.”
– Dr JOSEPH F BORG
This initiative is part of a wider strategy to diversify the UAEs economy and enhance its tourism sector. The integrated resorts, which amalgamate hotels, restaurants, entertainment venues, and 바카라s, are anticipated to attract tourists globally.
In addition to terrestrial 바카라s, Borg said that the GCGRA is also establishing a limited framework for online gambling. This significant step acknowledges the rising popularity of online gaming and its potential as a revenue generator.
Strict regulations and visitor-focused services
Borg believes that the UAE Lottery will play a pivotal role in this new landscape. Similar to other gaming operators that will be licensed in the UAE, he added, the UAE Lottery will be able to offer its services to tourists and residents. However, he pointed out that these services will not be accessible to Emirati citizens.
Borg reiterated that while the exact parameters of this new regulatory framework are not yet public, the GCGRA has made it clear that it aims to create a socially responsible and well-regulated gaming environment. This includes the implementation of strict guidelines and ensuring that all participants adhere to the highest standards.
The UAE is on the brink of a major transformation of its gambling industry. The establishment of the GCGRA, the licensing of integrated resorts, and the introduction of a limited framework for online gambling are all steps towards creating a vibrant and regulated gaming sector in the UAE. This transformation is expected to have substantial economic and social impacts, contributing to the UAEs growth and diversification.
SiGMA News spoke with Joseph F. Borg who heads the Fintech, iGaming and Gambling practices at WH Partners and co-heads the WH UAE Desk. A lawyer by profession, he previously served as Chief Regulatory Officer at the Lotteries and Gaming Authority – Malta and was a Legal Counsel at Vodafone Malta Limited. Borg is a General Member of the International Masters of Gaming Law, a lecturer at the University of Malta, and Vice-President of Bitmalta.
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