Dubai: MGM tower set to open in 2027, says CEO
The construction of the MGM tower in Dubai is in full swing and is set to open in 2027, said William Hornbuckle, CEO and President of MGM Resorts International.
'The building is due to be completed in the third quarter of 2027. We're literally up on the fifth floor of the MGM tower as we speak. It's an exciting project, a truly interesting resort with all kinds of features. Hopefully we'll get to add gaming,' Hornbuckle said during the first quarter earnings call.
The US-based hotel and gaming operator said last month that it has 'a non-gaming management agreement with Wasl Hospitality to bring the Bellagio, Aria, and MGM Grand brands to Dubai".
In 2017, Dubai-based Wasl Hospitality and Leisure signed an agreement with MGM Hospitality to advise on the development of a premier destination resort in Dubai and to operate the resort when completed.
The 26-acre prime beachfront development would feature an MGM Hotel, MGM Residences and a Bellagio Hotel, marking the debut of the MGM and Bellagio brand names in the Middle East region, the US company had said in a statement at the time of agreement.
Last month, a high-level MGM team, including chairman Paul Salem, visited Dubai and met Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE.
William said the key mission to visit Dubai was to discuss opportunities that MGM could bring to the UAE, especially Dubai and to update the government about 'opportunities that we could bring to the UAE and Dubai specifically".
Although MGM struck a non-gaming management agreement in Dubai, the UAE gaming market will reach $3-$5 billion (Dh11 to Dh18.35 billion) over the years.
The multi-billion dollar Wynn Al Marjan — coming up in Ras Al Khaimah — is the first integrated gaming resort coming in the Middle East. It received a licence in October last year from the UAE regulator — General Commercial Gaming Regulatory Authority (GCGRA).
Construction work on Wynn Al Marjan is underway at a fast pace with one floor per week. It is scheduled to open in early 2027.
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