UAE issues first gambling licence to Las Vegas-based casino

The United Arab Emirates issued its first gambling licence on Friday to a Las Vegas-based casino, as confirmed by the commercial gaming firm.

The Wynn Resort, a hotel and casino, was awarded the first commercial gaming operator licence by the General Gaming Regulatory Authority of the country.

The Las Vegas-based casino firm is developing a luxury resort at Wynn Al Marjan Island in Ras Al Khaimah, according to a report published by Reuters.

However, the information has not been confirmed by the authorities of Ras Al Khaimah.

Last month, the UAE established an authority to regulate gambling and hired a US industry to lead the authority.

The move makes it clear that Gulf countries have given the go-ahead to commercial gaming, which was previously prohibited and considered illegal and un-Islamic.

The decision is seen as intensifying economic competition among investors as Gulf countries are making efforts to transition their oil-reliant economies into business hubs.

It's worth mentioning that Saudi Arabia has also opened the country's first alcohol shop for foreigners and diplomats, according to reports.

Reportedly, Saudi Arabia has opened its first alcohol store in the capital, Riyadh, exclusively catering to non-Muslim diplomats. 

Saudi Arabia, known as a highly conservative Muslim theocracy, has banned alcohol since 1952.