On Thursday, Wynn Resorts, based in Las Vegas, released the name and first images of its planned $3.9 billion casino resort in the United Arab Emirates, which industry analysts have labeled as “one of the most exciting growth prospects in the gaming industry globally.
The property, named Wynn Al Marjan Island, is set to open in early 2027 and will occupy 115 acres on Al Marjan Island, a group of four islands in the emirate of Ras Al Khaimah. This will also be the company’s first beachfront property, and Wynn will have a 40% stake in the multi-billion project. The company is partnering with local firms Marjan LLC and RAK Hospitality Holding LLC on the project.
The 1,500-unit resort will feature rooms, suites, and villas, and once completed, it will be the first property in the UAE with a casino. The resort’s architecture will deviate from Wynn’s traditional bronze-colored style seen at its other properties, such as Wynn Las Vegas, Encore, Wynn Macau, and Encore Boston Harbor, and instead, the design will include a 1,000-foot tower. The final design is inspired by the resort’s natural surroundings and Wynn’s aesthetic history. The company explained that “the same geometric configuration of the curved shape of the beach on the island is echoed through the podium structure, similar to a great opera house, creating majestic views of the beach, sea and the horizon.”
According to Las Vegas Review-Journal, Wynn Resorts CEO Craig Billings expressed pride in the company’s design team’s work on Wynn Al Marjan Island, a sun-soaked beachside resort set to open in early 2027. Billings noted that discussions were underway with local partners to develop additional hotels on the island that will “act as a powerful feed” to Wynn Al Marjan Island. Meanwhile, Chief Financial Officer Julie Cameron-Doe stated that the resort’s funding will come from debt and partner equity contributions, with Wynn holding a 40% stake and the remaining 60% belonging to its partners.
Gaming industry analyst John DeCree of CBRE Equity Research believes that Wynn Al Marjan Island’s growth prospects are among the most exciting in the industry, comparing it to the legalization of sports betting in the United States, the development of a casino in Osaka, Japan, and the competition for casino licenses in New York City. Wynn is among the companies vying for a license to operate a casino in New York, having partnered with Related Companies to develop a casino on the western half of the Hudson Yards.
According to the Las Vegas Review-Journal, analyst John DeCree predicts that Wynn Al Marjan Island will generate annual cash flow between $450 million and $600 million, which is comparable to the per-room earnings of Encore Boston Harbor in 2022 and Wynn Palace in Macau in 2019. However, DeCree also believes that the location advantages of the UAE, including demographics, tourism, and wealth, could make the long-term earnings potential even greater.
The planned resort will cover a total of 5.6 million square feet, including 120,000 square feet of retail space, 100,000 square feet for conventions and meetings, and 224,000 square feet for the casino. The casino will account for about 4% of the gross floor area, more than double the size of Wynn Las Vegas. The resort will also feature 24 dining and lounge options, a spa and wellness center, a high-end shopping area, an events center, a theater, and nightly laser and light shows.
Construction work on the foundation began earlier this year. Wynn will have a 40% stake in the multi-billion-dollar project, which is its first beachfront property, and is working with local partners Marjan LLC and RAK Hospitality Holding LLC. The resort, called Wynn Al Marjan Island, is set to open in early 2027 on the 115-acre Al Marjan Island, made up of four islands, in the emirate of Ras Al Khaimah.