Casino operator MGM in UAE hotel deal
LAS VEGAS: Casino operator MGM Mirage is reported to have signed a joint venture agreement with United Arab Emirates investment and development company Mubadala Development to create a new hotel company.
There have been strong rumours in recent months that the UAE would allow gaming in a bid to match the growing appeal of rival destinations like the gambling enclave of Macau, and Singapore, where two resort casinos are underway.
But MGM and Mubadala Development, which is owned by the government of Abu Dhabi, insist the newly formed company will develop luxury non-gambling hotels and resorts globally, initially targeting Abu Dhabi and Las Vegas.
MGM said the joint company would develop its own hotel management platform and brands, utilising one or more of the MGM Mirage brands.
MGM Mirage, Mubadala and the new company will provide management and development services for the properties.
Speaking earlier his year Awadh S Alketbi, director of the Dubai Convention Bureau, told TravelMole Asia, “most definitely, Dubai will never have casinos”.
“The wish of investors is one thing, the wish of the government is quite another thing.”
Saleh Mohamed Al Geziry, from the Dubai Department of Tourism and Commerce Marketing, said the aim was to continue to promote Dubai as a destination for families and business events.
by Ian Jarrett
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Ian Jarrett
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