Wynn Resorts Raises UAE Project Budget by $600 Million, Sets 2027 Launch Date

Wynn Resorts has increased the budget for its Wynn Al Marjan Island resort in the United Arab Emirates by approximately $600 million, with the property now confirmed to open in September 2027. The budget adjustment reflects significant construction challenges, as approximately half of the increase was directly attributable to disruptions caused by regional conflict. Due to these developments, Wynn Resorts contributed $48.1 million to the project during the second quarter, bringing its cumulative equity contribution to approximately $1.06 billion. Moreover, about $1.4 billion has been drawn from the construction loan to support the development.

Wynn Resorts Confirms September 2027 Opening Date

CEO Craig Billings acknowledged a “modest delay” to the opening timeline, with the property now targeting September 2027. Despite logistical and shipping disruptions linked to regional tensions, construction maintains momentum with 22,000 workers on site. The project stands as the Middle East’s most closely watched hospitality development, set to become the region’s first Las Vegas-style integrated resort.

Wynn Resorts secured the first gaming license awarded in the United Arab Emirates in 2024 while the property remained under construction. This milestone positions Wynn Al Marjan Island as the first casino resort in the UAE, granting the company a monopoly on gaming operations for several years before other potential casinos may open. Authorities indicated no plans to award additional casino licenses in the immediate future.

The resort features approximately 1,500 rooms and suites, designed as an ultra-luxury integrated resort targeting Gulf, European, and Asian travelers. The development provides a strategic gateway between Europe and Asia, representing Wynn Resorts’ first licensed gaming footprint in the UAE. This positioning aims to capture untapped regional wealth and premium tourism flows, broadening the company’s geographic diversification beyond Macau market dependencies.

Budget Increases by $600M Due to Regional Disruptions

Billings stated Wynn Resorts is raising the total project budget by roughly $600 million. Of that amount, approximately half stems directly from disruption caused by the regional conflict, including material cost increases, shipping cost increases, and pre-opening and capitalized interest costs associated with the extended construction timeline. In addition, the company experienced disruptions related to the movement of staff and consultants, along with other non-recurring issues that impacted both timing and project costs.

The remaining portion of the budget increase reflects remeasurement, trade coordination, and other costs typical for a project of this scale and duration, independent of regional developments. The higher budget requires Wynn Resorts to contribute approximately $240 million in additional equity over the remainder of construction. Wynn Resorts holds a 40 percent stake in the joint venture building the project.

Regional tensions disrupted global supply chains with direct consequences for UAE construction projects. Construction projects faced significant cost escalation due to spiking risk insurance premiums, increased fuel costs for longer shipping routes, and general market volatility for materials. The Strait of Hormuz experienced reduced vessel traffic, while major shipping lines suspended bookings, rerouted vessels around Africa, or sheltered in safe ports.

Construction Progress and Market Positioning

Construction proceeded as planned with 55% of structural concrete completed by late 2024, reaching the 26th floor of the main resort tower with walls extending to the 29th floor. The construction team completed one floor per week, working toward a topping off in December 2025. At this point, the tower structure accommodated 1,121 guest rooms, representing 73% of the total. Fit-out work commenced in approximately 820 rooms, including walls, floors, ceilings, and all mechanical, electrical, and plumbing services.

The building topped out in December 2025 with 100% of the tower’s structural concrete completed and all guest accommodation structure finished. The project employed 9,100 construction team members onsite, with more than 100 concrete trucks operating daily. Additionally, Wynn Resorts commenced staff recruitment in May 2025, aiming to hire around 9,500 employees less than two years prior to opening.

Wynn Resorts stands to maintain a monopoly on gaming in the UAE for several years before other casinos may open. In fact, the GCGRA chairman confirmed other integrated resorts will appear over the next five to 10 years, stating that Wynn has the head start. High demand for retail space at the resort has been reported. Following the initial development, Wynn acquired an additional 155 acres on Al Marjan Island for a second integrated resort through land reclamation.