Wynn sets September 2027 opening for UAE resort

Wynn Resorts has set September 2027 as the opening date for Wynn Al Marjan Island in Ras Al Khaimah, providing its clearest timetable yet for the UAE’s first licensed integrated gaming resort.

The Las Vegas-based company announced the date while reporting stronger second-quarter revenue and profit, supported by a sharp improvement at its Macau properties and sustained demand from wealthy customers.

Wynn contributed $48.1 million during the three months ended June 30 to the joint venture building the resort. Its cumulative cash investment in the project has now reached about $1.06 billion. The company owns 40 per cent of the venture, alongside affiliates of Marjan and RAK Hospitality Holding.

The development had previously been expected to open during the earlier part of 2027. The September target indicates a modest extension of the construction timetable as work advances on one of the largest tourism projects under development in the Gulf.

Wynn Al Marjan Island is being built on a man-made island in Ras Al Khaimah, about 50 minutes by road from Dubai International Airport. The resort is expected to cost about $5.1 billion and will include 1,542 rooms and suites, restaurants, retail outlets, entertainment venues, a marina and a licensed gaming area.

The project secured a $2.4 billion construction financing facility from a syndicate of international and regional lenders in 2025. The financing, combined with shareholder contributions, is supporting the final stages of structural and interior work.

Wynn received the UAE’s first commercial gaming facility operator licence in October 2024. The licence was granted by the General Commercial Gaming Regulatory Authority, the federal body responsible for regulating commercial gaming, the national lottery and related activities.

The resort is expected to strengthen Ras Al Khaimah’s position as an international leisure destination while broadening the emirate’s tourism offering beyond beaches, outdoor attractions and luxury hotels. Its location also gives Wynn access to the large population and visitor base of Dubai and other parts of the northern emirates.

The opening date was disclosed as Wynn reported second-quarter operating revenue of $1.86 billion, up from $1.74 billion in the corresponding period of 2025. Net income attributable to the company more than doubled to $140.1 million, or $1.32 per diluted share, from $66.2 million, or 64 cents per share.

Adjusted earnings reached $1.24 per share, exceeding market expectations. The results reflected higher casino and food-and-beverage revenue, although some room, entertainment and retail income remained under pressure.

Macau delivered the strongest growth. Operating revenue at Wynn Palace rose by about 21 per cent to $653.4 million as gaming volumes and premium customer activity improved. Wynn Macau also posted higher revenue, extending the recovery of the group’s operations in the territory.

The stronger Macau contribution helped offset softer conditions in some parts of the United States. Wynn’s Las Vegas properties continued to benefit from luxury travel and high-end customer spending, while Encore Boston Harbor recorded weaker performance.

Chief executive Craig Billings said demand from Wynn’s premium clientele had remained resilient. The company has continued investing in exclusive restaurants, private clubs and upgraded services rather than relying heavily on broad discounting or all-inclusive promotions.

The strategy reflects Wynn’s focus on affluent travellers whose spending has remained comparatively stable despite uncertainty surrounding global economic growth. Luxury hotel operators and gaming companies have increasingly concentrated on customers willing to pay for specialised accommodation, dining and entertainment experiences.

Investors responded positively to the quarterly figures and the clarity provided on the Ras Al Khaimah timetable, sending Wynn shares higher in extended trading. The UAE project is viewed as a major long-term growth opportunity because of its position as the first licensed land-based gaming resort in the country.

Other international operators have expressed interest in entering the UAE, but no additional land-based casino licence has been announced. Wynn therefore retains a substantial first-mover advantage as the federal regulatory framework develops.