International Game Technology (IGT) has officially received regulatory approval to operate as a licensed gaming supplier in the United Arab Emirates (UAE). This makes IGT the seventh company to be approved as a gaming-related vendor in the country after securing licence from the General Commercial Gaming Regulatory Authority (GCGRA).
GCGRA signs MOU with New Jersey
The other companies that have received the licence are Novomatic, Aristocrat, EQL Games, Smartplay International, Xpoint and PayBy. The approval comes days after Governor Phil Murphy of New Jersey signed an MOU with the UAE’ General Commercial Gaming Regulatory Authority (GCGRA), marking a formal partnership between the two jurisdictions’ gaming regulators.
The agreement, brokered during New Jersey’s economic mission to the Gulf Arab States and facilitated by Choose New Jersey, seeks to foster innovation and cooperation in both land-based and online gaming. the New Jersey Division of Gaming Enforcement (DGE) and the UAE’s GCGRA to commit to joint initiatives in cybersecurity, responsible gaming technologies, and wider consumer protection.
Official comments
“Commercial gaming is a cornerstone of our vision for diversified economic growth, significantly contributing to tourism and foreign investment,” said GCGRA chief executive Kevin Mullally. “This partnership with New Jersey’s DGE aligns cutting-edge technology with modern regulatory frameworks, unlocking economic potential while prioritising consumer protection and responsible gaming.
“The DGE’s leadership in gaming makes it an ideal partner for the GCGRA as we advance our gaming industry. This MOU will drive technological innovation and regulatory excellence, reinforcing the GCGRA’s position as a premier gaming destination.”
New Jersey Governor Phil Murphy said, “The GCGRA’s ambitious vision for gaming aligns with New Jersey’s role as an international leader in the industry. This collaboration between GCGRA and DGE will drive innovation, strengthen consumer protections, and enhance economic opportunities in both regions.”
UAE leans on gaming sector to diversify economy
The UAE sees the gaming sector as part of its broader strategy to diversify its economy and attract foreign investment. Securing the approval marks the first stage towards IGT’s gateway to market credibility, operational legitimacy, and long-term business opportunities.
In the last quarter of 2024, IGT registered $651 million in revenue for the quarter, down 4 percent from the same period in 2023. The drop was attributed to “comparisons with record product sales revenue in the prior year.” Despite the decline, the company noted that the revenue was still the second-highest quarter for product sales revenue in IGT’s history. For the quarter, income from continuing operations was up by 60 percent yearly, amounting to $116 million. The associated margin registered was 17.9 percent.
