Operator provides updates on project at investor presentation
In an investor presentation, Wynn Resorts has said that it expects between 70 to 89 per cent of revenue at its Wynn Al Marjan Island resort in the UAE to come from its gaming floor.
It pitches annual gross gaming revenue at the resort to be between US$1bn and US$1.7bn with a marketing strategy that will focus on high-frequency, short-stay gamblers, staying on average 1.2 nights, with guests expected to make three trips a year. It believes there will be an annual growth rate in visitors to Ras Al Khaimah (RAK) of 30 per cent.
During the presentation, Wynn CEO Craig Billings said: “Wynn properties have historically ramped in about three years, typically with a significant jump from the first to second year as we fine tune operations and marketing.”
It anticipates two further casino projects will be licensed in the UAE, which could produce between US$3bn and US$5bn, between them, in GGR each year. It is aiming for a market share of 33 per cent if these conditions prevail, with a Wynn Premium of 1.2x GGR fair share based on 11,000 gaming positions in the market.
The 305-meter tower is close to its full height, with topping-out expected in late November 2025, ahead of the planned March 2027. The tower has now reached the 70th floor, and work on the roof deck is underway. Progress on the tower’s exterior is advancing with 73 per cent of the façade panels installed.
Across the resort’s low-rise structures, the combined concrete and steel works are now 97% complete. Exterior façades, interior fit-out, and the installation of elevators and escalators are all progressing steadily.
Wynn Al Marjan Island will feature 1,530 rooms, suites, townhouses, and Marina Estates. Structural work is now complete for 1,526 of the 1,530 accommodations, representing 99.7% progress. Interior fit-out is also well advanced, with work underway in 1,504 rooms- approximately 98% of the total- as mechanical, electrical, and finishing activities continue across the property.
Wynn Al Marjan Island has also confirmed the introduction of Coral Court, an Events & Celebrations Center, created for weddings, galas, and international gatherings. The 7,700-square-meter event venue will have a Grand Ballroom, six meeting rooms, private salons for bride and groom, prayer rooms, and an lawn overlooking the Arabian ocean.
In terms of dining, there are 22 restaurants, lounges, and bars set to be opened at the resort, including an elegant French-American steakhouse by Alain Ducasse and Delilah, the supper club from Wynn Las Vegas, and The h.wood Group.
Wynn Al Marjan Island will feature 1,217 resort rooms and 297 Enclave suites, plus two Royal Apartments, four Garden Townhomes, and 10 Marina Estates and a beach club, as well as the region’s most opulent spa and beauty destination and a skylit shopping centre housing the world’s most desire international luxury brands.
Ras Al Khaimah International Airport is planning to build a new VVIP terminal and private jet hangar close to the resort to serve high-end travellers heading to the emirate’s beach resorts and the $3.9bn Wynn Al Marjan Island.
The post Between 70 and 89 per cent of revenue at Wynn Al Marjan Island to come from gaming appeared first on G3 Newswire.
Operator provides updates on project at investor presentation In an investor presentation, Wynn Resorts has said that it expects between 70 to 89 per cent of revenue at its Wynn Al Marjan Island resort in the UAE to come from its gaming floor. It pitches annual gross gaming revenue at the resort to be between US$1bn…
The post Between 70 and 89 per cent of revenue at Wynn Al Marjan Island to come from gaming appeared first on G3 Newswire.