Wynn Resorts has committed $3.4bn of the total $5.1bn budget for its Wynn Al Marjan Island integrated resort in the UAE.
Wynn Resorts has committed $3.4bn of the total $5.1bn budget for its Wynn Al Marjan Island integrated resort in the UAE, with construction advancing toward an early 2027 opening.
The operator revealed the financial milestone during an investor and analyst tour in Ras Al Khaimah yesterday (4 December), indicating that approximately 67% of the project costs have either been spent or are fully contracted.
It comes amid widespread hype in the industry about the potential of the UAE market, including its online component, although details so far remain scant.
Wynn said the remaining $1.7bn will be deployed as construction continues on the 353m tower and surrounding facilities.
The resort will feature 1,530 rooms and suites across a 70-storey tower, alongside 275 gaming tables and more than 2,000 gaming machines.
The property will also include 24 restaurants and lounges, a theatre, nightclub, five star spa and 420 metres of private beach frontage.
Wynn projects gaming revenue 82% of total
According to the presentation materials, Wynn projects GGR at the property to range between $1bn and $1.66bn annually at steady state, with total net revenue expected between $1.38bn and $1.88bn.
In the base case scenario, gaming would represent approximately 82% of total revenue.
The company estimates the broader UAE gaming market could generate between $3bn and $5bn in annual gross gaming revenue, assuming three integrated resorts operate in the emirates.
Wynn Al Marjan Island will be the first casino resort in the UAE and currently holds the only casino licence issued by authorities.
The market analysis draws comparisons to established gaming jurisdictions including Macau, Singapore and Las Vegas.
Wynn’s bottom up modelling assumes a population of 2.4bn people within a four hour flight radius, with penetration rates and trip frequency based on behaviour in other gaming markets worldwide.
Construction progressing apace
Construction has reached 100% completion for tower structural concrete and guest accommodation structures, with approximately 70% of the exterior facade glazing installed.
Around 18,000 construction workers and professionals are currently working on site daily. The project commenced air conditioning to tower guest rooms in October 2025.
The property sits approximately 50 minutes from Dubai International Airport and 15 minutes from Ras Al Khaimah International Airport.
Infrastructure improvements including the expansion of Emirates Road from three to five lanes are expected to reduce travel times from Dubai by 45%.
Wynn Resorts holds a 40% stake in the joint venture developing the property alongside local partners Marjan and RAK Hospitality Holding.
The operator expects the project to deliver returns on equity between 16.7% and 34.3% based on various performance scenarios.
Management and licence fees paid to Wynn Resorts are projected to range between $110m and $230m annually depending on performance levels.