The United Arab Emirates may legalize gambling. If so, they will be the first Gulf state to legalize casinos. For this purpose, a body has already been created in the country that will regulate this industry.
By creating a special government body to control gambling, the UAE has taken the first step towards the legalization of gambling. He will be responsible for implementing the “world’s leading regulatory framework” for commercial gaming and the national lottery.
Note that for the United Arab Emirates, this decision is revolutionary. This is a turning point, because according to the laws of Islam, gambling is prohibited. But it can stimulate the economy by sending a large flow of money into the country.
According to Bloomberg Intelligence, thanks to the legalization of casinos, the UAE will receive 6.6 billion dollars annually. At the same time, Dubai is considered as the most profitable point for new casinos. After all, the city is considered one of the most popular tourist destinations. It is visited by thousands of people every year.
By the way, some well-known casinos are already operating in Dubai or are planning their expansion. But after the legalization of gambling, it will be possible to soften the country’s policy and make it more attractive to investors.