Wynn Resorts CEO Craig Billings estimates that the UAE gaming market could generate gross gaming revenue (GGR) between AED 18 billion and AED 29 billion ($5 billion to $8 billion). Speaking with CNBC’s Jim Cramer, he highlighted the region’s strong market potential, emphasizing its affluence and growing population.
Last year, Wynn Resorts secured the UAE’s first commercial gaming operator license. This allows the company to develop Wynn Al Marjan Island, a casino resort in Ras Al Khaimah. Construction has already reached the 42nd floor, and the project is set to open in 2027.
Wynn Al Marjan Island: A Landmark Project
Covering five million square feet, the resort will feature 1,500 hotel rooms, over 25 dining venues, and a large gaming floor. It will also include a specially designed production show.
Wynn Resorts owns a 40% stake in the project, partnering with Marjan LLC and RAK Hospitality Holding LLC. The company has also secured an exclusive, renewable 15-year casino license for Ras Al Khaimah. Analysts estimate the resort could generate at least AED 4.89 billion ($1.33 billion) in annual GGR.
Global Expansion and Future Growth
The resort’s location, just 50 minutes from Dubai International Airport, ensures easy access for international visitors. Billings expressed confidence in the UAE market, stating that Wynn will be the only operator for a significant period, strengthening its competitive advantage.
Beyond the UAE, Wynn Resorts is expanding in the UK by acquiring Crown London (Aspinalls), a members-only casino in Mayfair. Billings believes this move will strengthen the brand’s customer base and enhance connections with high-net-worth patrons who frequent both London and the UAE.
With a clear strategy and a strong market position, Wynn Resorts remains optimistic about the future of gaming in the UAE.
