Casino giant Wynn has set a new September 2027 opening date for its UAE mega resort following construction delays linked in part to the Iran war.
The company further said that costs would rise by $600 million, lifting the total construction cost to about $5.7 billion.
Wynn chief executive Craig Billings revealed the details in an earnings call early on Wednesday as the company set out its second quarter results.
Good progress is being made on the interior fit-out of the hotel - set to be among the most lavish in the Middle East - while hiring was progressing well, the company said.
CEO, Wynn
A total of 425 people now work for Wynn Al Marjan. About 3,000 will be needed ahead of the launch, with thousands more down the line.
Mr Billings said Wynn was firmly committed to the UAE, which strongly defended itself against the "heaviest bombardment of the war".
"This is a country that absorbs pressure and keeps functioning rather than one that gets knocked off course by it," he told journalists and investors on a call.
“I’m not going to tell you there’s no risk, but when we underwrote the project, we didn’t underwrite a region with zero geopolitical risk. We underwrote a country with a demonstrated ability to manage through it," he said.
“If you look at Dubai Airport, they’ve really, over the course of the past couple of months, continued to grow flight capacity. Supply chains are normal and day-to-day life is pretty normal … so we’re planning a pretty normal course of construction."
He added: “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.”
Wynn Al Marjan Island is the UAE's first 'integrated gaming resort' - a landmark move in a region in which gambling is prohibited. The company received the country's first commercial gaming licence in October 2024. It originally aimed for an early 2026 launch date, which has been gradually pushed back.
The resort is expected to be a huge tourism draw for UAE and Ras Al Khaimah in particular, which wants to diversify its manufacturing-based economy.
With 1,530 suites and villas, it will be the country's third-largest hotel by rooms, after Dubai's Atlantis and JW Marriott Marquis, but on a far larger piece of real estate.
