Wynn confirms September 2027 opening for Ras Al Khaimah resort as project cost rises to $5.7 billion.
Dubai: Wynn Resorts has confirmed that its highly anticipated Wynn Al Marjan Island integrated resort in Ras Al Khaimah will officially open in September 2027.
The US-based integrated resort operator also revealed that the project’s total construction cost has risen by $600 million to around $5.7 billion, during an earnings call.
The announcement came alongside the company’s second-quarter 2026 financial results, with Wynn stating that construction on what it describes as the most significant integrated resort opening in more than a decade is progressing at a rapid pace.
“Our second-quarter results reflect continued healthy demand across our business,” said Craig Billings, CEO of Wynn Resorts.
“Importantly, we continue to invest in growing and diversifying our operations, with construction at Wynn Al Marjan Island progressing at a rapid pace. Wynn Resorts, together with our partners in Ras Al Khaimah, are pleased to announce that Wynn Al Marjan Island will open its doors to guests in September 2027.”
The company also disclosed during its earnings call that the project’s estimated construction cost has increased by $600 million, bringing the total investment to approximately $5.7 billion.
Wynn remains confident in the UAE
Addressing investors and journalists, Billings said Wynn remained fully committed to the UAE despite regional geopolitical tensions, highlighting the country’s resilience in recent months.
“This is a country that absorbs pressure and keeps functioning rather than one that gets knocked off course by it,” he said.
“I’m not going to tell you there’s no risk, but when we underwrote the project, we didn’t underwrite a region with zero geopolitical risk. We underwrote a country with a demonstrated ability to manage through it.”
Billings said day-to-day operations in the UAE had continued largely unaffected.
“If you look at Dubai Airport, they have, over the course of the past couple of months, continued to grow flight capacity. Supply chains are normal and day-to-day life is pretty normal… so we’re planning a pretty normal course of construction.”
He added: “What we are building in the region is one of a kind, and the quality of work on site is truly extraordinary. We continue to believe this will be the most exciting integrated resort opening globally in over a decade, and we remain as committed to and confident in the UAE as ever.”
More than $1 billion already invested
During the second quarter, Wynn contributed $48.1 million to the joint venture developing Wynn Al Marjan Island, bringing its total cash investment in the project to $1.06 billion.
The company holds a 40 per cent stake in the joint venture behind the development, which is being built on Al Marjan Island in Ras Al Khaimah.
Alongside the project update, Wynn reported improved financial performance for the second quarter ended June 30.
Operating revenue rose to $1.86 billion, up from $1.74 billion a year earlier, while net income attributable to Wynn Resorts more than doubled to $140.1 million, compared with $66.2 million during the same period last year.
The company said the growth was driven mainly by stronger performances at Wynn Palace and Wynn Macau, while its Las Vegas operations achieved a monthly Adjusted Property EBITDAR record in May.
Wynn ended the quarter with $1.57 billion in cash and cash equivalents, excluding short-term investments held by its Macau operations. The company’s board also declared a quarterly cash dividend of $0.25 per share, payable on August 28.
