Wynn Resorts has released artist’s renditions of a 1,542-room, 300-meter integrated resort tower, on which it has already begun construction, Asia Gaming Brief reported. The Al Marjan IR would be the first casino in the United Arab Emirates (UAE.)
It would be located in the emirate of Ras Al Khaimah, near Dubai and Abu Dhabi.
Construction workers have taken the tower up to 40 meters. Topping off is expected in late 2025.
Gambling hasn’t been officially legalized yet in the UAE, although the Tourism Development Authority has created a division to regulate
“integrated resorts in the emirate.”
Wynn has released memos referring to “a gaming area,” in the resort. The IR is being built as a beachfront resort on a 153-acre island on the Arabian Gulf. It will include a 15,000-square meter shopping center, meeting space, and events center.
Asia Gaming Brief also reported that Wynn CEO Craig Billings has said that Wynn’s investment will cost as much as $900 million. The total budget will be $4 billion. The announcement came during the first quarter earnings conference call.
Wynn CFO Julie Cameron-Doe added that the company has already contributed $70 million equity to the project in the first quarter of 2024. Total investment so far is $160 million.
Billings said that construction is going forward rapidly. “And as of this week, we are currently constructing the fourth floor of the hotel tower. I expect we will further update you on the advances we have made on the project later this year.”
