UAE gaming regulator, Abu Dhabi financial watchdog sign cooperation agreement

The gaming regulator for the United Arab Emirates (UAE) has signed a memorandum of understanding (MoU) with the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), aimed at strengthening regulatory cooperation and information sharing. The agreement between the General Commercial Gaming Regulatory Authority (GCGRA) and the FSRA establishes a formal framework for cooperation in support of the respective supervisory responsibilities of the two bodies, according to a recent announcement. ADGM is an international financial centre based in Abu Dhabi, one of the seven emirates of the UAE, which serves as the country’s federal capital. The agreement covers areas including “supervisory coordination, policy dialogue, investigative assistance and the exchange of regulatory information, in accordance with applicable laws and confidentiality requirements”. The authorities said the arrangement was intended to support effective supervision of regulated entities while preserving the independent statutory mandates of the respective regulators. Ciarán Carruthers, chief executive of the GCGRA, said in prepared remarks: “Commercial gaming is one of the newest regulated sectors in the UAE, and its credibility will be built through exactly this kind of cooperation.” He added: “This MoU gives GCGRA and the FSRA a clear channel to share information and coordinate supervision where our respective mandates intersect, which matters as the sector grows and the range of participants operating in and around it becomes more complex.” Mr Carruthers, who assumed the CEO role in June, stated that the UAE’s reputation as a “well-regulated jurisdiction rests on regulators working in step with one another”, adding that the agreement provided “a formal foundation” for that relationship. The GCGRA was established in 2023 to introduce and oversee a federal regulatory framework for commercial gaming in the UAE. So far, there is only one licensed casino operator in the UAE. That is casino firm Wynn Resorts Ltd, which is developing with local partners the Wynn Al Marjan Island casino resort in Ras Al Khaimah. The project is scheduled to open in September 2027, according to Wynn Resorts. The GCGRA has also established regulatory frameworks covering areas including lottery operations, gaming-related vendors and other commercial gaming activities. Emmanuel Givanakis, CEO of the FSRA, said the MoU represented “an important step” in strengthening regulatory cooperation and a “shared commitment to regulatory excellence”. “Effective collaboration between regulators is fundamental to preserving market integrity, addressing emerging risks and ensuring that regulatory frameworks evolve alongside innovation,” Mr Givanakis added. He also said closer cooperation between regulators was becoming increasingly important as “financial services and adjacent sectors become increasingly interconnected”. The two authorities said the agreement was also intended to strengthen regulatory certainty for market participants operating within ADGM and the UAE’s wider financial ecosystem, while supporting a commitment to international regulatory standards.