Wynn Resorts is doubling down on its investment in a new IR in the UAE, with Wynn Al Marjan Island expected to get a $900 million investment from the company, of the total $4 billion needed for the project. The group's CEO notes that construction is going smoothly, with expectations to open the property by 2027.

Wynn Resorts' Chief Executive Officer, Craig Billings, revealed recently that the group's Wynn Al Marjan project in the UAE should absorb almost $900 million in investment. As for Thailand, the group is "actively" considering possible greenfield development opportunities and observing the development of its future gaming regulatory framework.

In its latest investment note, Deutsche Bank points out that Wynn Resorts' management believes the gaming operator will be the first to market in the UAE for a few years. They note that it's highly unlikely for every Emirate to have an integrated resort, citing reasons ranging from cultural nuances to population density and visitation.

Wynn's foray into the UAE could be opening the gateway for a casino flourish in the desert, with expectations that the property could generate similar EBITDA to Wynn's Cotai strip property, says an analyst.

A United Arab Emirates (UAE) casino will give Wynn exposure to a population of 10 million, which has a per capita income of $77,000, says an analyst. This fits well with Wynn’s high-end clientele and design in its existing Vegas and Macau properties. 

Wynn Resorts Ltd. anticipates receiving a gaming license in the United Arab Emirates (UAE) soon. Craig Billings, the company's Chief Executive Officer, shared this information during the earnings call following the release of the 2Q23 financial results on Thursday morning in Asian time.

Wynn Resorts’ CEO, Craig Billings, says that the group is expecting its anticipated resort in the UAE, Wynn Al Marjan Island, to generate “between $450 million and $600 million of steady-state EBITDA”.

Wynn Resorts has revealed the ‘design vision’ for its planned integrated resort in the United Arab Emirates sheikdom of Ras al-Khaimah. Named the Wynn Al Marjan Island, the resort is being developed with local partners Marjan LLC and RAK Hospitality Holding LLC.

HKS Architects have been appointed to develop the concept and design of a planned multi-billion dollar project from Wynn Resorts in the United Arab Emirates.

Wynn Resorts' planned integrated resort in the United Arab Emirates could produce robust returns on equity investment of about 20-30 percent, Bernstein said in a note, adding the majority of revenue is likely to be from non-gaming.