Wynn Resorts has released a detailed update on its Al Marjan Island integrated resort development in Ras Al Khaimah, providing new forecasts for gaming revenue, market performance and the status of construction works ahead of the planned early-2027 opening.
The investor report projects annual gross gaming revenue between $1bn and $1.66bn once the property becomes fully operational.
Based on current models, gaming is expected to account for 73% to 89% of total resort revenue. Wynn also estimates project ROI in the range of 9.8% to 15.7%, with return on equity forecast between 16.7% and 34.3%.
The company confirmed that approximately two-thirds of the project's $5.1bn budget has been spent or contractually committed.
Structural concrete for the towers is complete, topping out is approaching, and all guest accommodation structures have been finished with fit-outs underway.
Low-rise buildings are 97% complete and 70% of tower façade glazing has been installed. The resort's casino is set to include 275 tables and more than 2,000 gaming machines.
Wynn also outlined expectations for the broader UAE casino landscape. In a scenario where three integrated resorts ultimately operate in the country, the company projects market penetration of around 0.04% across the 2.4 billion people living within a four-hour flight radius.
Annual trip frequency for these visitors is estimated at 2.8 to 3.1 visits, above levels seen in both Macau and Las Vegas.
Demand indicators referenced in the report include strong hotel-room shortages expected at the time of opening and expanded transport options, including a planned electric air-taxi link that would reduce travel time from Dubai to approximately 15 minutes.
Wynn Resorts CEO Craig Billings said: "What we're focused on right now is getting open with the absolute best product that we can."
Last month, Wynn reported Q3 net income of $88.3m as consolidated revenue rose 8.3% to $1.8bn.
The company also noted steady performance across Las Vegas and Macau, supported by margin discipline, operational adjustments, and a continued focus on high-value international visitation that the operator expects to carry into 2026.
The report confirms that the casino floor will sit on an elevated podium, positioned to offer gulf-facing views and direct access from the property's main arrival areas
