Setbacks Delay Wynn’s UAE Casino, Which Now Costs $5.7Bn

Wynn Resorts announced that its $5 billion-plus island casino resort in the United Arab Emirates (UAE) had been delayed until the fall of 2027.

The highly-anticipated project, known as Wynn Al Marjan Island, will also cost $600 million more than originally expected. Half of that is said to be because of the ongoing conflict in the Persian Gulf, primarily, the Iran War.

Although the casino will open its doors later than first anticipated, there are no plans of limiting or abandoning the project.

Wynn delays UAE casino opening

Wynn first attached a 2026 initial opening date when it announced the project in Jan. 2022. The timeline was pushed back to Q1 2027, only for Wynn to say during its Q1 announcement this year that a “modest” delay was expected.

Although regional guests will have to wait another half-of-a-year, Wynn CEO Craig Billings said that work was continuing at a “rapid pace.” 

“As development of Wynn Al Marjan Island progresses, regional conflict-related disruptions initially impacted global supply chains and continue to impact the shipping insurance markets,” he said during the company’s Q2 earnings call.  “This has required certain materials and equipment to be resourced, rerouted or expedited to ensure the project’s construction timeline. 

The opening was also delayed because of issues that did not directly relate to the Persian Gulf, but were more on the human side.

“In addition, we experienced certain other disruptions associated with the movement of staff and consultants and other non-recurring issues,” Billings said. “These disruptions have impacted both the timing and cost of the project.”

As the massive facility is now just over a year away from opening, Wynn is already hosting pre-launch hiring and training for future employees.

Full steam ahead in the UAE

Billings was in the UAE to examine the project’s progress in June. He reported that work is ongoing on the interior of the hotel rooms, including mechanical and electrical work, along with finishings. 

Wynn’s CEO also said that the casino’s grand opening will not occur in phases, but rather, all at once. The completed property will include live-dealer table games, slot machines, blackjack, and more common attractions.

He added that the target launch time in September coincides with the beginning of the most active time of the year for casino-resorts.

“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.”

The UAE’s rich gambling culture — a relative rarity for its geographical region — is attracting more companies than just Wynn.

Fanatics announced in June that it was expanding internationally for the first time, joining the UAE’s gaming market through a joint venture with Momentum, a company that owns and operates the UAE’s only licensed iGaming and sports betting platform. 

Bloomberg estimated that a fully-mature gaming industry in the UAE could reach $6.5-6.6 billion, or about 1.3% of the national GDP.