The highly anticipated Middle East casino set to operate out of the United Arab Emirates is poised to attract visitors from around the globe, with Wynn Resorts expressing confidence in the construction schedule.

Recently, JPMorgan analyst Joseph Greff hinted that while the casino had not yet been officially confirmed, the project in Ras Al Khaimah was primarily a hospitality venture, but that could change in the near future.

There are several indicators supporting the idea that a casino is in the cards. Wynn Resorts is holding a three-day investor conference in Las Vegas, Nevada in October. Greff believes this event signifies that the approval for a casino floor in the United Arab Emirates is all but guaranteed, and the conference will provide insight into what to expect in the future and how to capitalize on the current circumstances.

“We don’t look at this as a derisking event, but rather one in which equity investors can start to ascribe the currently discounted equity value related to the project,” Greff stated in an investor note.

Earlier this year, the General Commercial Gaming Regulatory Authority released a thorough overview of the requirements that any potential casino operator would need to fulfill in order to establish a casino property in the United Arab Emirates. As of now, it looks like only the Wynn Al Marjan Island project will be granted permission.

The status granted to Wynn Resorts is quite prestigious, as if everything goes according to plan, the Wynn property will be the first regulated casino to open in any Arab country as soon as 2027. The United Arab Emirates aims to enhance its image as a forward-thinking nation that values tradition while welcoming progress.