Craig Billings, CEO of Wynn Resorts, expressed confidence that the upcoming Wynn Al Marjan resort in Ras Al Khaimah will emerge as a pivotal tourism hotspot in the UAE. Speaking after the release of the 2023 annual results on Thursday, Billings highlighted in a Khaleej Times report that the $3.9 billion project is progressing swiftly, with foundational work nearing completion and vertical construction slated to commence shortly.
“Construction of Wynn Al Marjan Island continues, with much of the hotel tower and podium foundation complete, and preparations underway to start vertical construction of the hotel tower. We are confident the resort will be a ‘must see’ tourism destination in the UAE,” stated Billings.
Set to open its doors in early 2027, Wynn Al Marjan is poised to offer approximately 1,500 rooms, suites, and villas, alongside an extensive array of entertainment options, gaming facilities, dining experiences, spa services, and shopping avenues. The resort aims to cater to both extended stays and day trips, promising diverse experiences, including nightly laser and light shows.
During an earnings conference call, Billings emphasized the substantial growth prospects for Wynn Resorts in the UAE, citing the project as a significant opportunity for expansion into new markets. The company recently announced robust operating revenues of $1.84 billion for the fourth quarter of 2023, marking a substantial increase from the previous year.
In addition to the Wynn Al Marjan venture, Billings underscored the potential for further development, both in the UAE and in existing properties such as those in Las Vegas.
“We have a project that’s actually coming out of the ground in the UAE. And that’s going to be a very substantial opportunity for us,” affirmed Billings, highlighting the company’s strategic vision for sustained growth and diversification.