Wynn Resorts has confirmed that Wynn Al Marjan Island in the United Arab Emirates will open in September 2027, following disruptions that affected the project’s construction schedule and costs.
The company has also increased the total project budget by approximately $600 million, according to its second-quarter results and earnings call on Tuesday.
“On timing, we now expect the project to open its doors to the public in September 2027,” Wynn Resorts CEO Craig Billings said during the call.
Billings said approximately half of the increase was directly attributable to disruptions caused by the regional conflict. These included higher material and shipping costs, along with additional pre-opening expenses and capitalized interest arising from the extended construction timeline.
The remainder covers project remeasurement, trade coordination and other costs associated with the scale and duration of the development.
Regional disruptions affected global supply chains and shipping insurance markets, requiring some materials and equipment to be sourced elsewhere, rerouted or expedited. The movement of employees and consultants was also affected.
However, Billings said construction was progressing, with interior work underway in the hotel rooms.
“We are now actively progressing through the interior fit-out of the hotel rooms, with mechanical, electrical and finishing work all moving along in sequence,” he said.
According to Wynn’s accompanying earnings presentation, the project hired a net 57 employees during the second quarter, bringing its workforce to 425 to date. Key leaders are in place across gaming and non-gaming divisions.
Addressing geopolitical risks, Billings said Wynn had considered regional uncertainty when assessing the investment.
“We didn’t underwrite a region with zero geopolitical risk,” he said. “We underwrote a country with a demonstrated ability to manage through it.”
He added that consumer supply chains and daily activity in the UAE had returned to largely normal conditions.
“We’re planning pretty normal course. Construction’s carrying on normal course, and we’re looking forward to opening the doors,” he said.
Wynn contributed $48.1 million to the project during the second quarter, taking its cumulative equity contribution to approximately $1.06 billion. About $1.4 billion has also been drawn from the construction loan.
Management said the $600 million budget increase would equate to approximately $240 million of required equity for Wynn, based on its 40 percent stake in the project.
The company expects its remaining equity contribution to Wynn Al Marjan Island and the neighboring Janu development to total between $525 million and $650 million.
Full opening planned for peak season
Billings said the September opening would coincide with the beginning of the UAE’s peak tourism season. Wynn does not plan to launch the resort in phases.
“We would open the doors and open all the amenities exactly as we would any other particular opening,” he said. “We generally don’t do phased openings.”
The timing is intended to allow construction and final completion work to finish before the operating team takes control of the building.
The General Commercial Gaming Regulatory Authority (GCGRA) currently lists Island 3 AMI FZ-LLC, doing business as Wynn Al Marjan, as the sole company under its land-based gaming facilities licensee category.
Billings said Wynn expected both regional and international demand after opening.
“Given that we will be a monopoly, demand should exceed supply,” he said. “It’s just a question of where it’s going to come from.”
Wynn’s earnings presentation estimates that the project could contribute approximately $345 million under its base case. The figure comprises Wynn’s 40 percent share of adjusted property EBITDAR and estimated steady-state management and license fees.
