Latest: Gaming 'just one element' of new RAK mega resort says developer
Ras Al Khaimah will open a multibillion-dollar resort on Marjan Island with Las Vegas hotel operator Wynn Resorts.
The development is set to open in 2026 and will have 1,000 rooms, at least 10 restaurants and a large convention centre.
The resort will also include a “gaming area”, according to a statement announcing the opening. Wynn is best known for its casino hotel resorts in Las Vegas, Boston and Macau.
The department of entertainment and gaming regulation will consider the social, cultural, and environmental landscape of the emirate and cover licensing, taxation, operational procedures and consumer safeguards
Ras Al Khaimah Tourism and Development Authority
Tourism chiefs have formed a new division to regulate “integrated resorts” and ensure “responsible gaming at all levels” in the emirate. The Wynn hotel will be one of these integrated resorts.
The Ras Al Khaimah Tourism and Development Authority (RAKTDA) said the “department of entertainment and gaming regulation” will oversee “hotel operations, convention space, entertainment, restaurants and lounges, spa, retail and gaming facilities” in these resorts.
“The department of entertainment and gaming regulation within RAKTDA will consider the social, cultural, and environmental landscape of the emirate and cover licensing, taxation, operational procedures and consumer safeguards,” it said.
“The foremost priority of this new division is to create a robust framework that will ensure … the regulatory structure will address the entire gaming enterprise within integrated resorts, requiring compliance with all applicable laws and regulations [including financial crime laws] from operators, suppliers and employees.”
Marjan Island is a development of four reclaimed islands with more than 7.8 kilometres of pristine beaches and 23km of waterfront, in addition to world-class hotels and residential developments.
With 1,000 rooms, the Wynn hotel would be the third largest in the country, after Dubai's JW Marriott Marquis with 1,600 rooms and Atlantis The Palm with about 1,500.
“Al Marjan Island is a pristine setting and an ideal greenfield location for us to create the one-of-a-kind guest experiences for which Wynn Resorts is renown,” said Craig Billings, chief executive of Wynn Resorts.
“The region offers tremendous potential for the hospitality and tourism industry, and we are excited about the prospect of developing an integrated resort in Ras Al Khaimah.”
Marjan, meanwhile, said "gaming is a responsible form of entertainment and leisure tourism that takes into consideration community, cultural and social norms". However, it did not define what gaming meant.
"Gaming is only one of the many elements of the resort, which will also include a 1,000 plus room hotel, a high-end shopping mall, a state-of-the-art meeting and convention facility, an exclusive spa, more than 10 restaurants and lounges, a wide array of entertainment choices and other amenities," a Marjan representative said.
It has yet to be known on which of the four islands the hotel will be built.
“The integrated development, featuring a world-class hotel, entertainment and gaming amenities, will add to the emirate’s destination strategy to attract tourists from across the world,” said Abdulla Al Abdooli, chief executive of Marjan.
“We are partnering with Wynn Resorts, one of the world’s most renowned integrated resort companies, which has a strong track record of developing luxury destinations with exceptional accommodation, dining, entertainment concepts and gaming facilities.”
The new resort is in the initial stages of design and development and an integrated resort licence will be applied for from RAKTDA.
Squads
Pakistan: Sarfaraz Ahmed (c), Babar Azam (vc), Abid Ali, Asif Ali, Fakhar Zaman, Haris Sohail, Mohammad Hasnain, Iftikhar Ahmed, Imad Wasim, Mohammad Amir, Mohammad Nawaz, Mohammad Rizwan, Shadab Khan, Usman Shinwari, Wahab Riaz
Sri Lanka: Lahiru Thirimanne (c), Danushka Gunathilaka, Sadeera Samarawickrama, Avishka Fernando, Oshada Fernando, Shehan Jayasuriya, Dasun Shanaka, Minod Bhanuka, Angelo Perera, Wanindu Hasaranga, Lakshan Sandakan, Nuwan Pradeep, Isuru Udana, Kasun Rajitha, Lahiru Kumara
End of free parking
- paid-for parking will be rolled across Abu Dhabi island on August 18
- drivers will have three working weeks leeway before fines are issued
- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket
- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200.
- The penalty for failing to pay for a ticket after 10 minutes will be Dh200
- Parking on a patch of sand will incur a fine of Dh300
Terminator: Dark Fate
Director: Tim Miller
Starring: Arnold Schwarzenegger, Linda Hamilton, Mackenzie Davis
Rating: 3/5
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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