Wynn UAE IR to generate US$1.8bn annual revenue by 2030, analysts say

CBRE expects the integrated resort to reach gross gaming revenue of US$1.38bn.

United Arab Emirates.- Wynn Al Marjan Island, the integrated resort (IR) Wynn Resorts is developing in the United Arab Emirates, is anticipated to generate US$1.8bn in annual revenue when fully operational, according to a report from CBRE Capital Advisors.

CBRE analysts John DeCree and Max Marsh have forecast that the IR will stabilise by 2030, potentially reaching this milestone sooner due to limited regional gaming supply. Their projections include gross gaming revenue (GGR) of US$1.38bn and net revenue of US$1.8bn.

Last year, Wynn Resorts estimated potential earnings before interest, taxes, depreciation, amortization, and rent (EBITDAR) for the property of between US$450m and US$600m.

The resort, located in Ras Al Khaimah, is a US$3.9bn venture involving local partners. Wynn Resorts holds a 40 per cent stake. In May, Wynn Resorts’s chief executive Craig Billings estimated that the group would invest around US$900m in the construction of the IR.

The complex will feature 22 restaurants, lounges and bars, a theatre with in-house productions, a 15,000-square-metre shopping esplanade, a spa and a 7,500-square-metre meeting and events centre. Construction began in early 2023 under the direction of UAE-based main contractor ALEC Engineering and Contracting. The tower is expected to be topped off at over 300 metres in the fourth quarter of 2025. The resort is expected to open to the public in early 2027.

CBRE predicts that non-gaming will make up nearly 40 per cent of total revenue, with high profitability margins expected due to a favourable regulatory environment and robust tourism industry.

See also: Wynn’s UAE IR to boost economic growth in Ras Al Khaimah, analysts say