Gambling is restricted in the UAE, but the laws are changing. The development of a new land-based casino resort is proof. Hopefully, Ras Al Khaimah will welcome players to a world-class casino resort in 2025. Here is a detailed article highlighting important points.
Ras Al Khaimah to Open a Luxury Integrated Casino and Hotel Complex
The Ras Al Khaimah Tourism Authority has released a statement stating that it plans to open the first-ever land-based casino in the UAE. This Arab casino will be located in the northern emirate of Ras Al Khaimah and is expected to open in the next few years.
Gambling is illegal in the Gulf nation, but the inception of this casino will pose a major shift in the policy. However, it’s done to diversify the tourism offerings and attract higher-spending visitors, strengthening the country’s economic condition.
What to Expect from the New Development?
This multi-billion-dollar project is expected to open in 2025 in Ras Al Khaimah’s coastal area of Al Marjan Island. The resort will be spread over 100 hectares and include a five-star hotel with 1,000 rooms, an entertainment village, spa and wellness facilities, and a waterpark.
The resort’s main attraction will be a large casino facility featuring 200+ gaming tables, 2000 slot machines, VIP suites and lounges, and more. Roulette, blackjack, poker, and baccarat tables will also be available in the casino.
However, players under 21 without a valid visa won’t be able to enter the casino facility. Furthermore, the resort will be trained to identify the signs of gambling addiction to deal with it on the spot.
Impact of Resort Development on Economy and Tourism
The development of this premier project is expected to significantly boost Ras Al Khaimah’s economy. Once completed, the state is estimated to generate about $1 billion/year.
Moreover, such a huge project will create more job opportunities for locals. Over 10,000 jobs are expected from this project in different departments, such as construction, tourism, and related areas.
Currently, the state needs to catch up with Dubai in attracting tourists, but this world-class resort will soon break the barrier and turn Ras Al Khaimah into a tourism hub.
Regulations to Prevent Money Laundering Activities at the Casino Resort
The development of the casino resort may benefit the UAE economically, but it still comes with the risk of money laundering. Here are some key regulations that Ras Al Khaimah’s state put into place to avoid such illegal activities:
- Strict KYC verifications through passport/ID documents to allow players into the facility or exchange large sums of cash.
- We have low maximum limits, initial cash buy-ins, and daily/monthly transaction amounts to avoid suspicious high-volume transactions.
- Mandatory reporting of illegal activities to the higher authorities for investigation and tracking.
- Regular casino audits by regulators to ensure compliance.
- Jail time and strict penalties against money laundering, non-compliance with regulations, and tipping off.
- Monitoring player behavior/transactions to identify money-laundering schemes and covering the casino with surveillance cameras.
- Keeping electronic and paper trail of all financial transactions related to gambling activities.
Get Ready to Enjoy an Elevated Casino Experience in Ras Al Khaimah
Ras Al Khaimah is keen on introducing a land-based casino resort expected to change the state’s tourism dynamics. This landmark project will bring an economic boost to the UAE overall and is expected to change the country’s stance on gambling significantly. The future will tell more!
