11Hours ago
Platform Launch in a Regulatory "Gray Zone"
Although Momentum is the only entity authorized to provide legal gaming through "Emirates Draw," the newly launched TrueWin and Dream Island websites do not display licensing information from the General Commercial Gaming Regulatory Authority (GCGRA), which was established in September 2023. This leaves their operations in an interesting "gray zone." Noticeably, their domain registration predates the formation of the regulator: TrueWin.ae was registered in March 2023, and the DreamIsland domain was registered as early as 2020, indicating that preparatory work began well before the online gaming regulatory framework took shape.
Market Expansion Signaled Early, Synchronized with Overall Development
Momentum's intent to enter the online casino and sports betting market became apparent earlier this year when the company publicly advertised for a Commercial Director for its upcoming digital gaming brands. This commercial move is synchronized with the overall development rhythm of the UAE's gaming industry. Currently, the UAE has approved the multi-billion dollar integrated resort project in Ras Al Khaimah (developed by Wynn Resorts), and the GCGRA has issued licenses to several suppliers, including Aristocrat, Light & Wonder, and IGT. Industry reports speculate that the regulator might later emulate the land-based casino model by issuing one B2C online gaming license for each of the seven emirates.
Huge Potential Market, Regulatory Direction is Key
According to industry analysis, if regulated, the annual revenue potential of the UAE gaming market could reach approximately $6.6 billion, which is a significant figure, equivalent to about 1.3% of its GDP, and potentially surpassing mature markets like Singapore. Earlier this month, the GCGRA's first CEO, Kevin Mullally, stepped down, a leadership change that occurs at a critical juncture in the industry's development. For industry professionals tracking global emerging market dynamics, securing timely, in-depth analysis of such regulatory and market evolution is crucial, which can be done via professional information platforms like the PASA official website. Currently, all signs point to the UAE's gaming sector being on the eve of a highly anticipated transformation.
