During a third-quarter earnings call on Friday, Wynn Resorts CEO Craig Billings said he expects two competitors in the United Arab Emirates in the years ahead. Wynn, however, will be first to market with its integrated resort.
The $5.1 billion Wynn Al Marjan Island, a joint venture with RAK Holdings, is on track to open in 2027.
“We were factoring in two incremental competitors and a market that is $3 billion to $5 billion of GGR,” Billings said. “With no announced competition that we’re aware of in the market thus far, there probably is some conservatism in those estimates.”
Billings acknowledged that the market is “very small geographically”, but he said it offers many advantages. Those include “a tremendous amount of airlift, a very robust locals market [and] a very, very high GDP per capita”. Wynn’s planned IR is less than an hour from Dubai International Airport. Last year, DXB handled more than 92 million travellers, up from 83.9 million in 2023.
The IR will offer 1,530 rooms and suites, 22 restaurants, an events centre, an upscale retail corridor and a 99-slip marina. Its 18,500-square-metre casino will be among the largest in the world.
Wynn is also building a companion property, Janu Al Marjan Island, slated to debut in 2028. Wynn will invest up to $50 million in Janu, with a wellness centre, additional F&B outlets and a private beach. Marjan CEO Abdulla Al Abdouli said the resort’s “soulful luxury” will enhance Al Marjan’s profile as a destination for discerning travellers.
Wynn is first to market in UAE
Crews are now pouring concrete for the upper levels of the Wynn IR’s 70-story tower. Billings called the UAE “the most compelling development opportunity in the industry”. The US company is already “actively marketing to the folks that we will want in the building on a one-to-one basis”, he added. “You should expect to see a lot more on the mass marketing side as 2026 progresses.”
The UAE’s General Commercial Gaming Regulatory Authority is helmed by US gaming industry veteran Jim Murren, who is the former CEO of MGM Resorts. He became the UAE regulator’s interim CEO last week after Kevin Mullally stepped down. Mullally was previously chief legal officer for Gaming Laboratories International.
Wynn Resorts won the UAE’s first gaming licence in October 2024, with a term of 15 years. It controls 40% of the joint venture, with a total investment to date of $835 million.
MGM Resorts International has also applied for a gaming licence in Abu Dhabi. MGM CEO Bill Hornbuckle made the announcement at a Skift Global Forum in New York in September 2024. “We’ve applied for something there and hopefully will win something there” he said of the seven-emirate UAE. “Each ruler has their say. It’s like a state, where each state says yes or no.”
Murren has said he expects up to four integrated resorts in the UAE in a mature market.
In a third-quarter earnings call, Wynn Resorts reports it expects two competitors in the United Arab Emirates, where it is building a $5.1 billion casino resort.