Wynn Resorts pushes UAE casino opening to September 2027
Wynn Resorts reported second‑quarter earnings that beat expectations, posting adjusted earnings of $1.24 per share and revenue of $1.86 billion, up from $1.84 billion forecast. Strong performance came from its Las Vegas, Boston and Macau properties, with Wynn Las Vegas generating $215 million of EBITDA.
The company announced that the Wynn Al Marjan Island integrated resort in Ras Al Khaimah, United Arab Emirates, will now open in September 2027, later than the early‑2027 target. The delay is attributed to supply‑chain disruptions and logistical challenges caused by the war in the Middle East, which added roughly $600 million to the project's cost, about half of which the company said is conflict‑related. Wynn holds a 40 % stake in the venture, has contributed about $1.06 billion in cash, and secured a $2.4 billion construction facility. The UAE’s General Commercial Gaming Regulatory Authority issued the country’s first commercial gaming license to Wynn in October 2024. Wynn also declared a $0.25‑per‑share dividend and repurchased $75 million of stock during the quarter.
Entities: Al Marjan Island · Craig Billings · Ras Al Khaimah · United Arab Emirates · Wayfair Inc. · Wynn Al Marjan Island · Wynn Resorts
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 4 SOURCES] The opening of Wynn Al Marjan Island integrated resort in the United Arab Emirates is delayed to September 2027. (Wynn Resorts announcement)
- [● 2 SOURCES] Wynn Resorts' second‑quarter revenue was $1.86 billion, exceeding the $1.84 billion forecast. (Wynn Resorts Q2 earnings release)
- [● 3 SOURCES] Project costs increased by approximately $600 million, about half of which is attributed to the conflict. (Wynn Resorts statement)
- [● 4 SOURCES] Wynn Resorts reported adjusted earnings of $1.24 per share for the second quarter. (Wynn Resorts Q2 earnings release)
- [○ 1 SOURCE] Wynn holds a 40 % interest in the Al Marjan Island project and contributed about $1.06 billion in cash by the end of the second quarter. (Wynn Resorts financial disclosure)
- [○ 1 SOURCE] Wynn declared a $0.25‑per‑share dividend and repurchased $75 million of stock in the quarter. (Wynn Resorts Q2 financial summary)
- [● 2 SOURCES] The UAE’s General Commercial Gaming Regulatory Authority issued the country’s first commercial gaming license to Wynn Resorts in October 2024. (Regulatory announcement)
- [● 3 SOURCES] The delay is caused by supply‑chain disruptions linked to the war in the Middle East. (Wynn Resorts statement)