Wynn Resorts (NASDAQ: WYNN) 2027 – Winners Win at Wynn Casino debut UAE Casino on Al-Marjan Island
In a recent presentation at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum, Wynn Resorts CFO Julie Cameron Doe shared exciting updates on the company’s upcoming projects and market performance.
One of the most notable updates was the announcement that construction on Wynn’s casino resort on Al-Marjan Island in the United Arab Emirates (UAE) is set to begin in just a few weeks, with a projected opening in 2027. This will be the first Las Vegas-style gaming venue in the Arab world, and Wynn is partnering with local hotel developer RAK Hospitality Holding LLC on the $2 billion project.
In addition to the UAE venture, Wynn is also making strides in the Macau market, which has seen a sharp rebound in recent months after a challenging period during the pandemic. Doe noted that Wynn Palace, one of the company’s two properties in Macau, is well-positioned to benefit from the resurgence because it is one of the newest venues in the region. Furthermore, Wynn’s decision not to lay off workers during the pandemic has helped the company avoid labor squeezes and position itself for growth.
Doe also expressed confidence in Wynn’s US operations, including its properties on the Las Vegas Strip and at Encore Boston Harbor. She noted that elevated midweek occupancy and marquee events like the 2023 F1 race in Las Vegas could help boost margins and room prices. Additionally, the recent launch of sports wagering in Massachusetts and plans for property expansion and additional parking at Encore Boston Harbor present exciting opportunities for growth in that market.
Overall, Wynn Resorts is poised for success in both the domestic and international gaming markets, with exciting new projects on the horizon and strong market positioning in established regions like Macau. Investors and gaming enthusiasts alike should keep a close eye on this industry leader as it continues to innovate and expand its footprint.