Good Morning. Wynn Resorts is not one to sit on its laurels. The company is already expecting its UAE property to be completed by 2027, investing some $900 million into the project, even as it explores opportunities in Thailand – depending on the direction given by the government. The group also notes that in regards to Macau, its Capex could reach up to $500 million, as it satisfies its concession necessities. Meanwhile, Light & Wonder continues to break records, seeing strong rises across all segments, driven by APAC growth.
What you need to know
- Wynn Al Marjan project in the UAE should absorb almost $900 million in investment: Wynn Resorts’ Chief Executive Officer.
- Wynn Macau‘s concession Capex commitments could range between $350 million and $500 million between 2024 and end-2025.
- Light & Wonder continues to break its own records, with first-quarter gaming revenue topping $476 million.
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AGB Intelligence
UAE/THAILAND
Wynn eyes Thailand, investing $900M in UAE
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. Meanwhile, sights are set on Thailand, with the group “actively considering” development opportunities in the region, depending on the information it gets from the government.
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