Wynn UAE resort still on track for 2027 launch, Texas Capital says
Analysts said the geopolitical tensions weighing on Wynn Resorts’ share price are unlikely to change the long-term financial forecasts for its US$5.1bn UAE project.
Texas Capital Securities said the planned opening of the Wynn Al Marjan Island integrated resort in the United Arab Emirates (UAE) remains on track for 2027, despite recent geopolitical tensions in the region.
In a research note issued on Monday, July 13, David Bain, an analyst at Texas Capital Securities, said the brokerage did not expect regional events to alter the long-term outlook for the US$5.1bn resort, although they may have weighed on investor sentiment surrounding Wynn Resorts in recent months.
Bain said the geopolitical developments had likely affected Wynn Resorts’ share performance by overshadowing expectations linked to the UAE project’s planned launch, but that the brokerage still expected the resort to open in 2027.
He added that the long-term financial prospects of the development remain intact and said regional tensions could ultimately result in stronger earnings and valuation than previously anticipated rather than weaken the investment case.
Wynn Resorts had previously targeted a first-quarter 2027 opening before later indicating during its first-quarter earnings call in May that the schedule could face a modest delay.
The project, located on Al Marjan Island in the emirate of Ras Al Khaimah, represents the first integrated resort with casino gaming planned for the UAE. Wynn Resorts owns a 40 per cent stake in the development and is leading its operations.
