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Wynn Resorts in UAE: Who will be among the first visitors?
Costing Dh14.3 billion, construction work on the 70-storey tower is going at a full-throat with one floor per week, reaching close to 50 floors
- PUBLISHED: Mon 12 May 2025, 5:30 AM
Wynn Al Marjan resort — the first integrated gaming resort coming up in Ras Al Khaimah — is largely betting on local residents, international visitors who will fly in and high-end customers as it opens its doors in 2027, a senior official said.
While speaking during an earnings conference call, Craig Billings, CEO of Wynn Resorts, said, the first type of visitors are those who will fly into Ras Al Khaimah and the second source is Dubai and UAE residents who will drive to Wynn Al Marjan resort for staycations and gaming.
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And the third bucket of customers, he said, are luxury customers seeking luxury which also account for a large chunk of its Las Vegas property.
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“From an EBITDA perspective, each one of them is important, and from a vibe and esthetic and customer experience perspective, each one of them is important. They each play a role in the programming that we have put into that building,” he said.
Wynn Al Marjan was the first property in the country to receive a licence from the UAE’s General Commercial Gaming Regulatory Authority (GCGRA) for an integrated gaming resort. However, there are other players in the queue who want to venture into this sector in the UAE to tap the $3-5 billion market.
Costing $3.9 billion (Dh14.3 billion), construction work on the 70-storey tower is going at a full-throat with one floor per week, reaching close to 50 floors. Upon competition in early 2027, the project will create 7,500 jobs across various hospitality, gaming, wellness, F&B and other segments.
During the first quarter of 2025, the company contributed $51.2 million of cash into the 40 per cent-owned joint venture. It took its to-date cash contributions to the project to $682.9 million.
Craig Billings ruled out the cost overrun of the project due to inflation or rising construction cost.
“We have a substantial portion of the UAE already bought out. So we have strong budget certainty in the UAE,” he said during the conference call.
