Wynn Resorts Pushes Opening of Al Marjan Island Integrated Resort to September 2027
As a consequence of the logistical delays and inflated material expenses, Wynn Resorts has expanded the development's total budget by an estimated $600m.
Wynn Resorts has confirmed during its Q2 earnings call that the opening of its flagship Wynn Al Marjan Island resort in Ras Al Khaimah has been rescheduled to September 2027.
The integrated resort was originally slated to open in March 2027. However, construction was temporarily halted in February following military strikes by US and Israeli forces on Iran. The resulting Middle East geopolitical tension disrupted shipping corridors in the Strait of Hormuz and reduced flight operations at Dubai International Airport, creating supply-chain bottlenecks and driving up overall project costs. As a consequence of the logistical delays and inflated material expenses, Wynn Resorts has expanded the development's total budget by an estimated $600m.
Despite the setback, investment bank Deutsche Bank issued a bullish note following the call, describing the confirmation of an official, fixed launch date as a positive development for market sentiment.
Project Progress and UAE Commercial Landscape
Work on the site resumed in March after additional safety protocols were established for construction personnel. During Q2, Wynn injected a further $48.1m into the joint venture, bringing its cumulative capital contribution to approximately $1.06bn for its 40 per cent equity stake.
Chief Executive Craig Billings informed analysts that structural construction is moving rapidly into interior fit-outs:
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. In addition to construction, pre-opening hiring and operations planning are advancing very well.
I travelled to the UAE in June and saw the progress first hand, the site, the team and the surrounding market. My flights were full and day-to-day activity in Dubai was healthy. What we are building in the region is one of a kind and the quality of work on site is truly extraordinary. We continue to believe this will be the most exciting integrated resort opening globally in over a decade, and we remain as committed to and confident in the UAE as ever.
Wynn secured the United Arab Emirates’ first commercial gaming licence from the General Commercial Gaming Regulatory Authority (GCGRA) in October 2024 and remains the sole land-based casino licensee in the market.
Billings reiterated that the operator's financial modelling accounts for two future land-based competitors in a UAE market projected to yield between $3bn and $5bn in gross gaming revenue (GGR). Meanwhile, the wider digital landscape in the region continues to take shape following the launch of Play971, the UAE's first licensed online gaming and sports betting platform based in Abu Dhabi.
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