Wynn buys land for possible second resort in UAW

The casino operator has entered a deal for a plot that spans nearly 1.5 million square feet.

United Arab Emirates.- Wynn Resorts has secured land for a potential second integrated resort on Al Marjan Island in Ras Al Khaimah, United Arab Emirates. The deal filed with the US Securities and Exchange Commission, involves Wynn Resorts, RAK Hospitality Holding and Al Marjan Island LLC.

The “Second Integrated Resort Plot” spans nearly 1.5 million square feet, including 593,870 square feet of existing land and 892,306 square feet of reclaimed land. If developed, Wynn or its affiliates would exclusively operate any casino on this site. However, Michael Weaver, Wynn’s chief communications officer, said no decisions will be made until after the initial Wynn Al Marjan Island resort opens in 2027.

The US$5.1bn Wynn Al Marjan Island, which will house the UAE’s first licensed casino, is on track for a 2027 launch. It will include a 225,000-square-foot casino, over 1,500 hotel rooms, dining outlets, retail space, a theatre, and an events centre. Wynn holds a 40 per cent stake in the joint venture and has a 15-year gaming licence. The company projects the resort could generate annual gaming revenue of US$1bn to US$1.67bn.

Wynn is restricted from opening other branded properties in the Gulf Cooperation Council region for 10 years after the first resort’s launch, unless approved by its partners.

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The casino operator has entered a deal for a plot that spans nearly 1.5 million square feet. United Arab Emirates.- Wynn Resorts has secured land for a potential second integrated…