Wynn Resorts Completes Al Marjan Resort Financing with $2.4 Billion Facility

Global casino operator Wynn Resorts has secured $2.4 billion financing for its Wynn Al Marjan Island development, the first integrated resort (IR) in the United Arab Emirates (UAE). The company announced the development through a press release, hailing the deal as a historic transaction, representing the largest financing agreement in the UAE’s hospitality sector.

The loan facility is available to Wynn Al Marjan Island FZ-LLC, a subsidiary that Wynn claims 40% ownership of, and will be provided in UAE dirhams (AED) and US dollars (USD). The arrangement is structured as a seven-year loan with what Wynn describes as a “competitive market interest rate”.

Secured Through a Syndicate of Global Institutions

The IR funding was secured through a diverse group of regional and international financial institutions, including:

• Abu Dhabi Commercial Bank PJSC and Deutsche Bank AG: Joint Coordinators of the financing
• First Abu Dhabi Bank PJSC, The National Bank of Ras Al Khaimah, and Emirates NBD Capital Limited: Initial Mandated Lead Arrangers, Bookrunners, and Underwriters
• Sumitomo Mitsui Banking Corporation DIFC Branch, Dubai: Lead Arranger
• First Abu Dhabi Bank PJSC: Agent and Security Agent for lenders

Steady Construction Progress

In an update on the project, estimated to cost US$5.1 billion, Wynn stated that 64% of the main tower’s structural concrete work is complete. The tower rises to the 34^th floor, while elevator cores are up to the 36^th floor. The construction team is on track to complete the tower by December 2025 at the current pace of completing one floor per week.

Once operational, the resort will provide 1,542 rooms and suites; 1,226 are complete, representing 80% of the IR’s room count. The team is also making solid progress with mechanical, electrical, and plumbing services, which are currently being fitted in 1,121 rooms.

Anticipated Features

Wynn Al Marjan Island is expected to open its doors in 2027 as an extraordinary luxury destination charming leisure and business travelers to Ras Al Khaimah. Its diverse offerings will include an expansive 39,000 sq ft pool section adjacent to the Arabian Gulf beach. 145,000 sq ft will be dedicated to MICE (Meetings, Incentives, Conferences, and Exhibitions) spaces alongside 22 bars, restaurants, and lounges.