Wynn Says UAE Casino Will Open in September 2027, Q2 Results Beat Estimates

Shares of Wynn Resorts (NASDAQ: WYNN) rallied in after-hours trading Tuesday after the casino operator reported estimate-topping second-quarter results while providing investors with clarity on the fate of its integrated resort in the United Arab Emirates (UAE).

Shareholders cheered the June quarter earnings report, which included an update on the $5.1 billion Wynn Al Marjan Island. The first regulated gaming venue in the history of the Middle East has been under scrutiny in the investment community due to geopolitical conflict in the region, but those concerns may have been dialed back today.

Soon after conflict commenced, the gaming company told analysts and investors the war in Iran would cause a “modest delay” in opening the Ras Al Khaimah-based casino resort.

Wynn Resorts Delivers Much Needed UAE Clarity

If there’s one thing markets hate, it’s uncertainty and that’s exactly what’s been hanging over Wynn Al Marjan Island since the start of the war in Iran. It’s understandable because early in the conflict, Iranian forces struck targets in the UAE, including a pair of palatial resorts.

That forced Wynn to pause construction at the site while potentially unnerving market participants at a time when some analysts argued the gaming company’s share price hasn’t been adequately reflecting the compelling long-term opportunity set in the UAE.

In addition to providing the September 2027 timeline for opening of the UAE casino hotel, Wynn updated investors on its financial exposure to the project.

“During the second quarter of 2026, the Company contributed $48.1 million of cash to the 40%-owned joint venture that is constructing the Wynn Al Marjan Island development in the UAE, bringing our life-to-date cash contributions to the project to $1.06 billion,” according to the Las Vegas-based gaming company.

Wynn Resorts Q2 Results Impress

In what’s been a mixed bag of casino company earnings reports so far, Wynn impressed, telling investors it earned $1.24 a share on revenue of $1.86 billion in the June quarter. Analysts expected earnings of 98 cents a share on sales of $1.83 billion.

During a rough patch for Macau casinos, Wynn’s two properties there both posted higher revenue in the June quarter while a roughly $44 million jump in earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) at Wynn Palace offset a $1 million decline at Wynn Macau.

In Las Vegas, revenue climbed by $4.6 million to $643.2 million while EBITDAR slipped to $215.2 million from $234.8 million a year earlier. Revenue and EBITDAR at Encore Boston Harbor modestly declined.