Wynn UAE Casino Resort Could Lure 3.5 Million Tourists to Home Island, Says Exec

The Wynn Al Marjan Island is a groundbreaking development poised to redefine the tourism landscape of Ras Al Khaimah. As the first premier casino resort of its kind in the Arab world, this project is set to become a major cornerstone of the UAEs leisure industry. Abdulla Al Abdouli, CEO of Marjan Properties, has indicated that the presence of such a world-class casino resort could be pivotal in attracting over 3.5 million visitors each year by 2030, significantly enhancing the regions global appeal through integrated luxury and entertainment.

Key Highlights of Wynn Al Marjan Island

• Projected Annual Visitors: The resort aims to attract approximately 3.5 million tourists every year, potentially rivaling the visitor numbers of major casinos in Las Vegas.
• Construction Milestones: Currently, the project has reached its 61st floor and is scheduled to open its doors in 2027.
• Strategic Location: Ras Al Khaimah is a short flight from Dubai, making it accessible for both local and international tourists.

In a recent conversation with The Khaleej Times, Al Abdouli elaborated on the potential benefits of this new resort. He noted that attracting such a significant number of tourists will require increased hospitality infrastructure, including hotels and residential units. This aligns with the Ras Al Khaimah Tourism Development Authority’s ambitious goal of enhancing the region’s visitor accommodations.

The Casino’s Economic Impact

The Wynn Al Marjan Island is being developed at a cost of $5.1 billion and is set to feature 1,542 luxurious guest rooms. The Wynn Resorts company is self-funding 40% of the project, with local partners Marjan LLC and RAK Hospitality Holding LLC joining in.

One of the key factors contributing to the expected influx of tourists is the UAE’s significant local wealth and the integrated resort’s strategic accessibility. Positioned within an eight-hour flight of a vast segment of the global population, Wynn Al Marjan Island is well-poised to become a major tourist destination. The resort’s projected capacity could also allow it to compete directly with popular casino resorts along the Las Vegas Strip.

Supporting Local Economy

Al Abdouli highlighted the essential role of this resort in supporting the local economy. The influx of visitors is expected to create numerous job opportunities and stimulate business growth in various sectors, including retail and hospitality.

Moreover, Wynn has acquired a substantial piece of land adjacent to the Al Marjan Island, offering future expansion possibilities that could include additional gaming venues, further enhancing the region’s appeal.

A Positive Outlook for Investors

Investor sentiment towards Wynn’s UAE venture is growing. According to a report by Stifel analyst Steven Wieczynski, there’s potential for Wynn Al Marjan Island to account for nearly 15% of the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) upon its launch in 2027. Analysts estimate the property could add significant value to Wynn’s shares, potentially elevating them to anywhere between $18 to $25 each.

Summary

In summary, Wynn Al Marjan Island is not just a casino; it represents a major step toward strengthening Ras Al Khaimah’s tourism infrastructure and economic growth. With ambitious goals set for visitor numbers, substantial investment, and future expansion opportunities, this project is expected to play a critical role in the UAE’s evolving hospitality scene.