Wynn Resorts has provided some key updates on its US$3.9 billion integrated resort project in the United Arab Emirates (UAE). The casino complex on Al Marjan Island, which is now under construction, will be aptly named “Wynn Al Marjan Island”, according to a recent press release from the company.
Wynn Al Marjan Island to Open in Early 2027
Wynn Al Marjan Island, which is being developed in partnership with local firms RAK Hospitality Holding LLC and Marjan LLC, will be home to UAE’s first casino. Additionally, the integrated resort will feature 1,500 hotel rooms, suites, and villas.
Wynn Resorts CEO Craig Billings said that Wynn Al Marjan Island, the casino’s first beachfront resort, will launch in early 2027. The company released some images of the design of the casino resort, featuring the natural landscape of the island.
Wynn Anticipates GGR Tax of Between 10% and 12%
The gaming space will occupy 224,000 sq. ft. or around 4% of the total floor area, more than double that of Wynn Las Vegas, according to John DeCree, an analyst at CBRE Securities LLC.
The regulatory regime for the casino operation has yet to be announced, but gross gaming revenue tax is expected to be set at between 10% and 12%, DeCree stated in a recent memo. While Wynn Resorts will only have 40% ownership of the business, it is poised to receive just over 40% of the economics because of license and management fees, DeCree added.