Wynn Resorts and its partners have earmarked land for a potential second integrated resort in Ras Al Khaimah, signaling long-term ambitions for expanding its gambling and hospitality footprint in the UAE. Under a shareholders’ agreement signed on 21 June 2024, Wynn, RAK Hospitality Holding and Al Marjan Island LLC designated multiple development plots on Al Marjan Island beyond their main Wynn Al Marjan Island project.
The “Second Integrated Resort Plot” is specified in the contract as covering about 593,870 square feet of existing land, with an additional 892,306 square feet to be reclaimed from the sea, bringing its total size close to 1.5 million square feet. If a casino is built there, the agreement stipulates that Wynn or its affiliate will be the sole operator.
Alongside this plot, two other parcels are defined under the master plan. The “Janu Plot” spans roughly 542,680 square feet combining current land and reclamation; its use is not confirmed, though speculation links it to Janu, a brand associated with the Aman Group in which Abu Dhabi’s Mubadala holds a stake. Another zone, labelled “Luxury Hotel and Apartments Plot,” includes about 439,190 square feet of existing land plus 254,653 square feet to be reclaimed.
Wynn’s main resort under construction, Wynn Al Marjan Island, will feature the UAE’s first licensed casino and is slated to open in early 2027. The shareholders’ agreement makes clear that no decisions will be taken about the second plot until after the opening of that primary resort.
The agreement also includes a non-compete clause. Unless other shareholders agree, Wynn or its affiliates are barred from opening any other Wynn-branded hotel, casino, or residence anywhere in the Gulf Cooperation Council for 10 years following the launch of Wynn Al Marjan Island.
Provisions for a possible initial public offering are embedded in the deal. It contemplates options such as restructuring into a public joint stock company, creating a new holding structure, or merging with infrastructure entities. Wynn has emphasised, however, that no final determination has been made on any IPO at this stage.
Wynn holds a 40 per cent equity stake in the joint venture and secured a 15-year gaming licence in Ras Al Khaimah for its flagship resort. The scale of the first project is substantial, with investment estimated around US$5.1 billion.
CEO Craig Billings has confirmed that Wynn’s UAE property remains its primary focus. In an earnings call in August 2025, he noted construction was progressing and said the land bank provided by Al Marjan Island offered opportunities that might be used over the following year.
Follow Arabian Post
Select Arabian Post as your preferred source on Google and MSN News for trusted business news and Arab politics and updates.
