UAE regulators have issued a license for the country\u2019s first officially authorized lottery.<\/p>\n\n\n\n
The Game LLC<\/strong> will operate the lottery under the UAE Lottery<\/strong> brand, offering a variety of games to suit different interests and financial capabilities.<\/p>\n\n\n\n The UAE\u2019s General Commercial Gaming Regulatory Authority (GCGRA)<\/strong> said on Sunday that the move is a major milestone in establishing a well-regulated commercial gaming sector in the country.<\/p>\n\n\n\n More information on the rules of engagement will be made available soon, as GCGRA officials described it as a \u201ckey\u201d step for the country.<\/p>\n\n\n\n Established in September last year, the GCGRA is led by gaming industry veterans and is the federal authority regulating commercial gaming activities in the country.<\/p>\n\n\n\n Jim Murren<\/strong>, Chairman of the GCGRA, commented:\u201cThe launch of the UAE Lottery is a pivotal event that not only marks the establishment of a disciplined world-class regulatory framework for lottery activities but also underscores our commitment to nurturing a secure and enriched commercial gaming environment in the UAE\u201d.<\/p>\n\n\n\n Kevin Mullally<\/strong>, CEO of GCGRA, said the organization\u2019s regulatory framework was created to ensure fairness, honesty and transparency in commercial gaming activities in the country, including lotteries.<\/p>\n\n\n\n \u201cThe GCGRA is steadfast in its commitment to global best practices in consumer protection and regulatory oversight. It also provides consumers with a comprehensive set of tools to monitor and manage their gaming activity. Additionally, we are leveraging new technologies to foster the creation of safe, entertaining games and drive consumer-focused innovation\u201d, said Mr Mullally.<\/p>\n\n\n\n The first license was issued months after some UAE prize draw operators were ordered to suspend their operations in January.<\/p>\n\n\n\n One operator at the time attributed the suspension to an \u201cindustry-wide mandate\u201d that was in line with the regulators\u2019 new role in creating an effectively regulated gaming environment in the country.<\/p>\n\n\n\n Prior to this, prize draws had been attracting increasing numbers of participants hoping for big windfalls.<\/p>\n\n\n\n Since its establishment in September, GCGRA has worked to develop a regulatory framework to protect consumers and stakeholders.<\/p>\n\n\n\n It was noted that engaging in, conducting or facilitating commercial gaming activities in the UAE without GCGRA approval is illegal, and breach of these rules can result in severe penalties.<\/p>\n\n\n\n Playing as a consumer through unlicensed operators is also considered illegal.<\/p>\n\n\n\n According to the GCGRA website, which went live on Sunday, the organization is the sole authority to regulate, license and supervise commercial gaming activities in the UAE. Its remit includes lotteries, online gaming, sports betting, and land-based integrated gaming establishments and resorts.<\/p>\n\n\n\n A \u201ccommercial gaming\u201d is defined as any game of chance or combination of chance and skill in which a sum of money or its equivalent is wagered with the aim of winning money or other valuable items.<\/p>\n\n\n\n