We all know the advantage of being first. Our view is it will likely be us alone for a multi-year period, given we’re well underway on construction. A whole bunch of reasons for this are related to cultural nuances, population density, and varying degrees of need for additional visitation. “We believe it’s highly unlikely that every Emirate will ultimately avail themselves of the right to host an integrated resort.

“On the back of several regulatory developments in the UAE, I’ve noticed increased chatter about the opportunities,” Billings said.