Posted on: October 29, 2024, 02:02h.
Last updated on: October 29, 2024, 02:02h.
Aristocrat Gaming, one of the world’s largest manufacturers of slot machines, said it was awarded the first international vender license in the United Arab Emirates (UAE).
The permit was granted to the Australian gaming device maker by the General Commercial Gaming Regulatory Authority (GCGRA) — the UAE’s first gaming regulatory agency — and sets the stage for Aristocrat to sell gaming devices at commercial casinos in the emirates.
As a leading designer, manufacturer, and distributor of regulated land-based slot games, Aristocrat will operate under the ‘Gaming Related Vendor License’ category. As the GCGRA’s first supplier to obtain the license, the company will offer world-class gaming content, hardware and services to cater to player interests and financial preferences,” according to a statement issued by Aristocrat.
The slot machine manufacturer didn’t reveal details about financial terms associated with the UAE license. The company is one of the top overall suppliers of slot content with its titles enjoying cult-like followings in both the Asia-Pacific and North American markets.
News of Aristocrat procuring the UAE’s gaming vendor permit arrived just weeks after the GCGRA awarded Wynn Resorts the first casino license in the history of the Arab world.
In conjunction with local partner RAK Hospitality, Wynn is building Wynn Al Marjan in Ras Al Khaimah — a $4 billion integrated resort that’s expected to open in early 2027. Some recent reports indicate that casino hotel could open in in the first quarter of that year, putting it slightly ahead of schedule.
In the press release discussing the vendor permit, Aristocrat did not mention Wynn. However, Wynn Al Marjan Island is expected to have a temporary monopoly in the UAE before other gaming venues there come online. The casino at that property will likely command less than 5% of total square footage.
Regarding Aristocrat’s potential UAE client roll, the slot maker has established relationships with Wynn and MGM Resorts International, which has also declared an intent to bid for a UAE casino permit.
With new growth frontiers difficult to come by in the global gaming industry, the UAE stands out for both operators and device makers such as Aristocrat. For both sets of companies, the UAE could be an attractive long-term market.
Depending upon the number of casinos the GCGRA approves, UAE could become a $5 billion gross gaming revenue (GGR) market, according to some analyst forecasts. That number is based on market maturation and assumes the approval of another three of four casino hotels in addition to the Wynn property.
At $5 billion in annual GGR, the UAE wouldn’t be a threat to Las Vegas or Macau on that metric, but it would be competitive with Singapore, confirming it could be alluring destination for content providers and device manufacturers like Aristocrat.
