Wynn Resorts Ltd has set a September 2027 opening date for its UAE integrated resorts project, Wynn Al Marjan Island, revealing that construction is again progressing rapidly following the recent announcement of a “modest delay” due to the impact of the Middle East conflict in Iran.
However, the company has also revealed a US$600 million cost increase, lifting the total construction cost to around US$5.7 billion based on earlier projections of a US$5.1 billion spend. This, explained Wynn CEO Craig Billings on the company’s 2Q26 earnings call on Wednesday morning (Asia time), is in part due to disruption from the regional conflict and specifically “material cost increases, shipping cost increases and the pre-opening and capitalized interest costs associated with the extended construction timeline.”
Billings added that other disruptions associated with the movement of staff and consultants had also impacted the timing and cost of the project, resulting in the new September 2027 opening date.
Despite this, the company said it is now actively progressing through the interior fit-out of the hotel rooms at Wynn Al Marjan Island while pre-opening hiring and operations planning are also advancing well. Another 57 team members were hired in 2Q26, taking the total count to 425 just over a year from launch.
On the impact of the ongoing Middle East conflict, Billings said, “We last spoke about this when the UAE was absorbing the heaviest bombardment of the war and since then the intensity directed specifically at the UAE has eased, even as the broader conflict has continued to play out. This is a country that absorbs pressure and keeps functioning rather than one that gets knocked off course by it.
“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.
“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.
“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.”
Macau expansion
Billings also provided an update on the group’s expansion efforts in Macau after Wynn last month received approval from the government to proceed with development of a new 432 all-suite hotel at Wynn Palace called The Enclave. Wynn will also develop an Event Center and Theater.
In Wednesday’s earnings call, it was revealed that The Enclave is expected to open its doors in 2029, while the Event Center and Theater are slated for 2028.
The Event Center will boast 49,000-square feer of seating area with 523 standard seats, 3,240 retractable seats, 2,016 event chairs and 318 VIP seats while the Theater will offer 23,000-square feet of entertainment space and an 8,000-square foot seating area with 612 standard seats and 74 VIP seats.
“Taken together, these projects reflect the clear and confident investment in the future of the Macau market and our commitment to support its diversification efforts,” said Billings.
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