UAE's Wynn Al Marjan Island in Ras Al Khaimah sets opening date; project cost climbs to $5.7 billion

Dubai: Wynn Resorts has confirmed that its highly anticipated Wynn Al Marjan Island integrated resort in Ras Al Khaimah will officially open in September 2027.

The US-based integrated resorts' giant also revealed that the project's total construction cost has increased by $600 million to around $5.7 billion in an earnings call.

The announcement came alongside the company's second-quarter 2026 financial results, with Wynn saying construction on what it describes as the most significant integrated resort opening in more than a decade is progressing rapidly.

"Our second quarter results... reflect continued healthy demand dynamics throughout our business," said Craig Billings, CEO of Wynn Resorts.

"Importantly, we continue to invest in both growing and diversifying our business with construction at Wynn Al Marjan Island progressing at a rapid pace. Wynn Resorts, alongside our partners in Ras Al Khaimah, are now pleased to announce that Wynn Al Marjan Island... will open its doors to guests in September of 2027."

The company also disclosed during its earnings call that the project's estimated construction cost has risen by $600 million, taking the total investment to approximately $5.7 billion.

Addressing investors and journalists, Billings said Wynn remained fully committed to the UAE despite regional geopolitical tensions, pointing to the country's resilience during recent months.

"This is a country that absorbs pressure and keeps functioning rather than one that gets knocked off course by it," he said.

"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."

Billings said day-to-day operations in the UAE had continued largely unaffected.

"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."

During the second quarter, Wynn contributed $48.1 million to the joint venture developing Wynn Al Marjan Island, bringing its total cash contribution to $1.06 billion.

The company owns 40 per cent of the joint venture behind the development, which is being built on Al Marjan Island in Ras Al Khaimah.

Alongside the project update, Wynn reported improved financial performance for the second quarter ended June 30.

Operating revenue rose to $1.86 billion, up from $1.74 billion a year earlier, while net income attributable to Wynn Resorts more than doubled to $140.1 million, compared with $66.2 million in the same period last year.

The company said growth was driven primarily by stronger performances at Wynn Palace and Wynn Macau, while its Las Vegas operations recorded a monthly Adjusted Property EBITDAR record in May.

Wynn ended the quarter with $1.57 billion in cash and cash equivalents, excluding short-term investments held by its Macau business. The company's board also declared a quarterly cash dividend of $0.25 per share, payable on August 28.