The entertainment market of the United Arab Emirates is becoming more and more enjoyable for major international brands every year. Attempts to make Islamic Dubai a gambling center in the current situation do not look fantastic. Especially since the casino chain Wynn has already taken the first step.
The gambling market is developing not only in the United States or Europe. Active development is taking place in Asia and Africa, and the Middle East has joined this list. It became known that the well-known gambling market company Wynn Resorts has completed financing its resort, Al Marjan Island, in Dubai. The company was the first to obtain a license to organize gambling in this Middle Eastern country.
A $2.4 billion loan from an international credit syndicate, with a seven-year term, helped close the project financing. Abu Dhabi Commercial Bank and Deutsche Bank are jointly coordinating this financing round. Part of the loan is provided in the UAE’s national currency.
The cost of the Al Marjan Island resort was initially 4 billion dollars. However, this amount has grown to 10 billion dollars over time. Despite such significant investments, Wynn Resorts is confident its project will succeed. After all, it has no actual competitors in the region’s market.
Such significant investments seem excessive in the face of pressure from the iGaming industry. Online casinos are leading the world market for gambling entertainment. The most popular games are presented in electronic format. Plinko and other gambling arcades stand out among them. Interesting design and gameplay have helped attract a new generation of players, which is critical to the industry.
The popularity of Plinko is evidenced not only by active advertising on social networks but also by online casino review websites. If you look on the site from the top of the search results, you can see Plinko in most of the popular online casinos. Almost everywhere, games of this genre are on the list of user preferences.
In such a situation, most gambling enthusiasts do not visit land-based casinos. Therefore, multi-billion dollar investments in such a business may become less reliable than in the past. However, Al Marjan Island in Dubai is not affected by this, as the project is doomed to success.