Good Morning. Build it and they will come. The UAE is banking exactly on that, with Ras Al Khaimah acting as its key testing ground for IRs with casinos. Wynn Resorts indicates that it already has some $3.4 billion either spent or pledged for its Al Marjan Island development, with massive expectations to boost tourism and regional development, while also reaping the benefits. Looking to Vietnam, the Sun Group is establishing its own fiefdom, building out its Van Don property while simultaneously moving in on non-gaming in Phu Quoc. The operator’s savvy approach of investing in infrastructure and development is a testament to its long-term vision, which is likely to pay off.
What you need to know
- Wynn Resorts says the $5.1 billion budget for its Wynn Al Marjan Island integrated resort is now 67 percent spent or contractually secured.
- Sun Group aims to make Phu Quoc Island the next Phuket or Bali, even as it benefits from its Van Don locals gaming allowance.
On the radar
- IGT ushers in ‘new era of leadership’ with new CEO Hector Fernandez.
- Thailand seizes $318M in assets tied to Prince Group in crackdown.
- Japan’s Esports industry faces legal challenges amid gambling ban: Lawyers.
- European visitor arrivals to Macau hit 80% of pre-pandemic levels: MGTO.
- Cambodia launching pilot visa-free program for Chinese nationals.
- AGEM Index slipped 1.5% MoM in November, still up 16% YoY.
AGB Intelligence
UAE
Wynn spent/pledged $3.4B on IR already
Wynn Resorts is no stranger to flinging billions at projects, but it always has a game plan. For its first integrated resort in the United Arab Emirates, its strategic plays appear to be working, gaining it the first-mover advantage in a massive new market when it opens Wynn Al Marjan Island. So far, over two-thirds of its $5.1 billion budget is either spent or contractually secured, and the property grows by the day, on track for an early-2027 opening.
Industry Updates
- PAGCOR recognized for performance and sustainability at GCG Awards.
- Logifuture kicks off with Sportradar as Zoom Soccer enters OneFeed.
- Konami lights up ICE 2026 with Online Interactive launch and Solstice.
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