Posted on: April 28, 2023, 04:51h.
Last updated on: April 28, 2023, 04:51h.
Wynn Resorts announced the name, estimated cost and timeline for its upcoming casino-resort on Al-Marjan Island in the United Arab Emirates (UAE).
The Las Vegas-based casino operator said the first gaming venue in the Arab world will be known as Wynn Al Marjan Island. While revealing design renderings of the property, Wynn reiterated the integrated resort will open at some point in early 2027 and cost an estimated $3.9 billion to build. Construction on the property commenced several weeks ago.
We have spent the past year meticulously programming and concepting Wynn Al Marjan Island, carefully considering its unique location,” said Wynn CEO Craig Billings in a statement.
Wynn is partnering with RAK Hospitality Holding LLC — a local hotel developer — on the project, and it’s estimated the US company’s stake is going to be around a third. Previously, analysts speculated the UAE property would carry a $2 billion price tag. At $3.9 billion, Wynn Al Marjan Island will cost $1.2 billion more than Wynn Las Vegas, which celebrated its 18th anniversary today.
Wynn Al Marjan Island Could Be Game Changer
UAE is one of the prime tourist destinations in the Middle East/North Africa (MENA) region and Ras Al Khaimah is one of the drivers of that enthusiasm.
“With its well- preserved history, rich archaeological heritage, and nature tourism offerings, the Emirate earned a place on the list of CNN Travel’s best 50 destinations to visit in 2023 and featured on TIME magazine’s World’s Greatest Places in 2022,” according to Wynn.
Over time, it’s possible that Wynn Al Marjan Island could be a game changer not only for Wynn itself, but the global gaming industry at large. Specific to Wynn, the UAE project diversifies a portfolio that’s heavily dependent on Macau.
Additionally, if gaming proves to be a success on and Ras Al Khaimah, other emirates could consider liberalizing their stances on the matter. That could be a boon for Caesars Entertainment and MGM Resorts International, both of which are developing non-gaming hotels in UAE.
Finally, with Las Vegas, Macau and Singapore saturated, global casino operators are looking for new expansion frontiers both in the US and abroad. With Wynn Al Marjan Island, the operator is beating rivals to the punch in terms of establishing a presence in previously untapped regions.
Wynn Al Marjan Island: Expect Luxury
In the US and Macau, Wynn’s five integrated resorts are among the most posh in the world with the accolades to back that up. Wynn Al Marjan Island will keep with that tradition and that’s a necessity given the competitive landscape of Al Marjan Island.
“With a rapidly growing portfolio of luxury five-star hotels and residential developments that offer a wide range of amenities and services and boasting over 7.8 kilometers of sparkling beaches and twenty-three kilometers of waterfront, Al Marjan Island is today seamlessly transitioning into a world-class resort destination,” according to the statement.
The hotel will feature 1,500 rooms and suites and 24 dining options, all of which will feature ocean views.
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