Wynn Resorts will soon begin building a $4 billion casino hotel tower at Al Marjan Island in the United Arab Emirates (UAE), Casino.org reported February 10.
It would be the first casino in this Islamic nation, which hasn’t actually legalized casinos yet, although in September it created a gaming commission, the General Commercial Gaming Regulatory Authority (GCGRA).
Wynn is aiming at opening in early 2027. The foundation is already finished, according to JP Morgan.
Wynn has a minority interest in the project, and is partnering with Marjan LLC and RAK Hospitality Holding LLC.
At a recent conference call with analysts, Wynn CEO Craig Billings talked about the project: “And importantly, we have a substantial growth opportunity in the UAE that will further diversify our portfolio and expand our brand into new markets,” he said.
The property will be about 5.6 million square feet, although gaming will only take up about 4 percent of that. In fact, gaming will only be a minor amenity, being outshone by luxury accommodations, world-class entertainment and 5-star restaurants.
The property “is really going to be a stunner, and it’s great to see the buildings start to take shape,” added Billings.
That the resort won’t focus on gaming is probably a plus given that the region has a history of opposing casinos, rooted in the prohibitions of the religion of Islam.
In fact, it’s always possible that the resort’s casino won’t actually happen, or will be delayed in opening.
The recently created GCGRA is chaired by former MGM CEO Jim Murren. Its job is to develop a gaming regulation infrastructure, including determining how many integrated resorts (IRs) will be allowed in the seven emirates.
