Gambling Resort To Push Ras Al-Khaimah Budget Into Deficit, Warns Fitch

Gambling Resort To Push Ras Al-Khaimah Budget Into Deficit, Warns Fitch

Rendering of Wynn Al Marjan Island- View of island

When it comes to casinos, the house is always meant to win. But the cost of developing the first gambling resort in the United Arab Emirates is likely to push the local host government in Ras Al-Khaimah – one of the seven emirates that make up the country – into a fiscal deficit, according to Fitch Ratings.