Wynn to Contribute up to $50 Million to New Project Near UAE Casino

• Partners behind Wynn Al Marjan Island will develop a ritzy hotel near the casino resort
• New venue will be built on Wynn’s land bank and is slated to open in 2028
• Wynn expected to contribute $25 million to $50 million to project

Wynn Resorts (NASDAQ: WYNN) announced that the joint ventures behind Wynn Al Marjan Island in Ras Al Khaimah, United Arab Emirates (UAE) have agreed to develop a new high-end hotel near the gaming company’s casino resort.

That venue, which will be located on Wynn’s land bank in the emirate, will be known as Janu Al Marjan Island with resort development led by Aman Group. The property is scheduled to open in 2028, with the project receiving a small financial contribution from the Las Vegas-based casino operator.

“Given the recent success of condo sales in the UAE in general and Ras Al Khaimah in particular, we anticipate our portion of the equity check for the project will be quite small, about $25 million to $50 million,” said CEO Craig Billings on Wynn’s third-quarter earnings conference call last week. “Beyond the standalone merits of the transaction, we also expect Janu’s high-quality customers will be additive to Wynn Al Marjan Island.”

The $5.1 billion Wynn Al Marjan Island, which is just a couple of floors away from completion, is scheduled to open in early 2027.

Janu Al Marjan Island Details

On Wynn’s second-quarter earnings conference call, Billings mentioned the operator’s additional UAE property holdings, noting plans for that land could be revealed over the next year.

“The hotel will feature 132 rooms with stunning views of the Arabian Gulf. Consistent with the Janu experience, the hotel will offer a Janu Wellness center including a yoga studio, gym, banya, and hammam,” according to a statement. “A Mixology Bar, two distinct restaurants, a vibrant nightlife venue, and a dedicated Kids’ Club will be part of the guest experience. Janu’s private beach will provide residents and guests seamless access to the water alongside a Beach Club and pool.”

Janu Al Marjan Island will also feature a small number of Janu residences ranging from one to five bedrooms, and there will be a limited number of freestanding villas.

Is a Casino in the Cards at Janu Al Marjan Island?

While there have been rumors about Wynn potentially landing a second UAE casino license at some point, it appears Janu Al Marjan Island will be born as a nongaming venue.

“Beyond the standalone merits of the transaction, we also expect Janu’s high-quality customers will be additive to Wynn Al Marjan Island,” said Billings on the call. “With the Marjan land bank, we have significant additional long-term development opportunities in the UAE.”