With a strong emphasis on customizing the experience for the local market, Wynn Resorts Ltd. is making great strides on its Wynn Al Marjan Island casino resort in Ras Al Khaimah, United Arab Emirates. The facility will have 1,500 accommodations, more than 25 dining options, and a large gaming floor, according to Craig Billings, CEO of Wynn Resorts. Furthermore, a custom production show is being made just for the resort.
“The [UAE] project is about 5 million square feet [464,515 sq. metres], 1,500 rooms, 25 food or more restaurants, an ample gaming floor and then a production show that actually we’re creating from scratch,” said Billings.
A Significant Market Opportunity
Industry experts estimate the UAE’s gaming market could generate between $5 billion and $8 billion annually. For comparison, the Las Vegas Strip produces just over $6 billion in gross gaming revenue. This presents a lucrative opportunity for Wynn Resorts as they expand their presence in the Middle East.
“Several analysts have come out with gaming market estimates [for the UAE market], ranging in the US$5 billion to US$8 billion range. To put that in perspective, the Las Vegas Strip is a little over US$6 billion. So, that’s a substantial market opportunity,” Billings highlighted.
He further emphasized the company’s strategy, stating, “So, we’re really focused on the wealth, affluence and population in that market.”
Construction on the resort is moving quickly; the hotel is now up to the 42nd storey. Wynn Resorts, along with regional partners Marjan LLC and RAK Hospitality Holding LLC, owns 40% of the development. It is anticipated that the project will open in 2027.
Additionally, Wynn Resorts has obtained a 15-year, exclusive casino license for Ras Al Khaimah that is renewable. This might boost the company’s worldwide gaming portfolio and produce at least $1.33 billion in gross gaming revenue (GGR) yearly.
Wynn Al Marjan Island is positioned to emerge as a premier destination in the area, with a focus on luxury, entertainment, and cultural significance.
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