At the end of January 2022, the American group Wynn Resorts made a lot of news by announcing a brand new ambitious project.
After the United States and Macau, it is on the artificial island of Al Marjan in Ras Al Khaimah in the United Arab Emirates that it intends to open a multi-billion dollar hotel-casino.
During the third quarter earnings conference call on Wednesday, November 9, the chairman and CEO of the famous operator (Craig Billings) provided some additional information about this future gaming complex.
A casino proper larger than the Wynn Las Vegas
For the moment, we still know very little about this future hotel-casino project developed by the Wynn Resorts group.
We can still say that it should open its doors during the year 2026 on the artificial island of Al Marjan. A particularly popular tourist destination, it is located 45 minutes from Dubai International Airport and only 15 minutes from Ras Al Khaimah Airport.
Set on approximately 25 hectares of land, it will be home to a gaming complex with incredible views of some of the region’s most beautiful sandy beaches.
Within it, there will be more than 1,000 rooms or suites, an upscale shopping mall, dozens of restaurants, lounges, a spa, and a meeting and convention center, among others.
In a recent conference call, Craig Billings talked a little more specifically about the gaming floor itself.
It was then learned that it would be even larger than the Wynn Las Vegas, which covers an area of over 10,300 square meters.
Key project to bring geographic diversification to Wynn Resorts
To carry out its ambitious project in the United Arab Emirates, Wynn Resorts Group approached local hotel developer RAK Hospitality Holding LLC and HKS Architects, which designed the Venetian Macau, Palazzo Las Vegas and Atlantis Paradise Island in the Bahamas among others.
At this time, the construction budget for the gaming complex has not yet been officially disclosed.
Nevertheless, some analysts estimate it to be around $2 billion and also expect the operator to generate a 20% return on investment.
As a result, this project seems essential to bring geographic diversification to the Wynn Resorts group. This is especially true at this time, as the very weak results in Macau continue to weigh on overall performance and the Al-Marjan Island project is expected to be the only one permitted for some time in the entire UAE.
In addition to this project, the operator is also currently seeking a license in New York City aux to operate a land-based casino.