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Wynn Resorts has delayed Wynn Al Marjan Island until September 2027 and added about $600 million to the project budget. Regional conflict, shipping disruption and a longer construction schedule account for roughly half of the increase.
Good to Know
- Wynn Al Marjan Island previously carried a $5.1 billion budget.
- Wynn Resorts owns 40% of the Ras Al Khaimah development.
- The resort holds the first commercial gaming licence issued in the UAE.
Wynn Adds $600 Million to UAE Resort Budget
Wynn now expects to contribute another $240 million in equity based on its 40% ownership share. Remaining equity needs for Wynn Al Marjan Island and the nearby Janu Al Marjan Island project should total between $525 million and $650 million.
Chief Financial Officer Craig Fullalove said Wynn contributed another $48.1 million during the second quarter. Total company investment has now passed $1.06 billion, while the construction loan had $1.4 billion drawn at quarter end.
The revised opening date replaces an earlier spring 2027 target. Wynn had expected a first-quarter launch before conflict in the Middle East interrupted supply routes and briefly paused construction.
Chief Executive Craig Billings said:
“Construction is progressing rapidly. We are now actively progressing through the interior fit out of the hotel rooms with mechanical, electrical, and finishing work all moving along in sequence.”
“In addition to construction, pre-opening hiring and operations planning are advancing very well,” he added.
Billings said shipping insurance costs increased, while Wynn had to reroute deliveries and find alternative suppliers for some materials and equipment.
“Of that, approximately half is directly attributable to disruption from the regional conflict: material cost increases, shipping cost increases, and the pre-opening and capitalised interest costs associated with the extended construction timeline,” Billings said.
“The remaining portion reflects remeasurement, trade coordination, and other costs you’d expect on a project of this scale and duration, independent of anything happening in the region,” he added.
September Opening Matches UAE Tourism Season
Wynn views the revised timing as commercially useful because September begins the main UAE tourism period.
The resort will also enter the market without a direct casino rival in Ras Al Khaimah. Billings expects gaming demand to exceed available capacity during the early operating period.
“It’s fair to say, particularly for the core gaming product, given that we will be a monopoly, demand should exceed supply,” he said.
Wynn Al Marjan Island will include more than 1,500 hotel rooms, luxury villas, over 20 restaurants and lounges, retail, conference space and a 225,000-square-foot gaming area. Wynn and its partners secured a $2.4 billion construction facility in 2025.
Wynn develops the resort with Marjan LLC and RAK Hospitality Holding LLC. Work has also started on Janu Al Marjan Island, an Aman Group luxury resort planned for the same reclaimed island area.
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