Game on for UAE as Dubai entrepreneur plans US$1 bn jackpot
The UAE is gearing up to roll the dice on the gaming industry, with possible plans to become the first Gulf state to legalise casinos and gambling.
Hot on the heels of news earlier this year that the UAE and wider region’s first-ever casino would open at Wynn Resorts in Ras Al Khaimah in 2027, the UAE government recently announced the establishment of a federal gaming body (GCGRA) – to create a regulatory framework for a national lottery and commercial gaming across the nation.
And now, a UAE-based leading gaming entrepreneur has announced plans to launch the world’s largest-ever overnight lottery jackpot of US$1 billion in Dubai.
Lottoland founder eyes US$1bn Dubai lottery
As founder of Malta-headquartered gaming website Lottoland – which holds the Guinness World Record for the highest-ever online gambling payout of €90 million – Dr. David von Rosen-von Hoewel is perfectly placed to host the jackpot.
The entrepreneur and investor has founded several gaming and gambling companies around the world with an annual revenue of US$1 billion, including Lottoland, which is active and fully licensed in 15 markets on five continents, employs more than 400 workers and serves 18 million customers globally.
David, whose Dubai-based ventures also include Web3-powered Oceana Market, the world’s first fan-to-earn platform that allows users to purchase and sell stakes in their favourite celebrities, and boutique property development company 25 Degrees, believes such a jackpot could potentially pave the way for a world-leading lotteries sector in Dubai.
“I’m really excited about the prospect of launching a US$1 billion overnight jackpot in Dubai,” David tells Business Chief.
“The city is a really exciting place to be – it is cosmopolitan, ambitious, forward-facing and a top destination for businesses and tourists alike and is undeniably the best place to launch a lottery of this size.
“Buying a lottery ticket online and receiving the full cash prize the very next day would be revolutionary, and it would help draw in tourists looking to win life-changing sums when on vacation in Dubai, Abu-Dhabi, or Ras-Al-Khaimah.”
David believes a competitive, digital-first lotteries sector would help further diversify Dubai’s economy and would best serve local consumers and the millions of international visitors, as prizes would be transferred immediately without participants having to check their tickets.
UAE diversifying economy with gaming tourism
The possible arrival of gaming and casinos comes at a time when the UAE is looking to further diversify its economy as well as attract increasing levels of foreign direct investment – not to mention, maintain its regional dominance as a tourism destination.
“The UAE has been doing a fantastic job of diversifying their economy over recent years, and I believe that truly modern lottery products can add another string to the UAE economy's bow,” David says.
“The UAE has a great opportunity to set the global standard in gaming and lotteries regulation by learning lessons from other markets.”
However, it’s a huge step for a country and region that has previously banned gambling – and steps to legalise it need to be strict and contained.
Which is where the newly formed GCGRA comes in.
Regulatory body and casino build lays gaming foundations
According to a report by state-operated Emirates News Agency, the GCGRA will “create a socially responsible and well-regulated gaming environment, ensuring that all participants adhere to strict guidelines and comply with the highest standards”.
“The formation of the GCGRA is a great step forward for lotteries in the UAE,” says David.
“I’m looking forward to further discussions with the relevant authorities so I can share my expertise with the regulators. I want to ensure that my insight and expertise from years in the lottery business can be used to inform the future legislation, such as the need for a competitive lottery marketplace and digitally-led products.”
GCGRA will be led by a team of international credentialed leaders, all with proven track records and a deep understanding of global best practices in regulating and maintain an effective, safe and responsible gaming industry.
Among the gaming industry veterans being brought on board, former MGM chief Jim Murren will serve as the chair of the GCGRA, while Kevin Mullally, the VP of Government Relations and General Counsel at Gaming Laboratories International, will serve as CEO.
As for the UAE and Gulf region’s first-ever casino, which is slated to open in Ras Al Khaimah in 2027 and cost a total of US$4 billion, Wynn Al Marjan Island will be a 1,500-room resort that is expected to be larger than the flagship US gaming venue.
Developed with local partners Marjan and RAK Hospitality Holding, the resort is RAK’s largest foreign direct investment project.
On a conference call in August, the resort’s CEO Craig Billings said the resort had everything it needed to operate gaming in Al Marjan and expects to have its license for RAK soon.
