The chief executive of a local partner for the Wynn Al Marjan Island casino resort in the United Arab Emirates (UAE) has affirmed 2027 as the completion date on the multibillion U.S. dollar scheme.
Abdulla Al Abdouli, chief executive of Marjan Properties, also told local news outlet Khaleej Times the project would boost visitor volume to Ras Al Khaimah, the emirate where the new resort is being developed.
The CEO was cited as saying: “We are committed to delivering the resort by 2027, and it is on plan.”
He added: “It is one of the biggest projects in the UAE and one of the most anticipated in the region.”
Mr Al Abdouli also observed: “It will add 1,542 hotel keys and more than 22 F&B lounges and experiences. It will increase the number of visitors to the emirate.”
Al Marjan Island LCC is the deedholder of the 1.49 million square feet (138,426 sq. metres) site where the resort (pictured in an artist’s rendering) is being constructed.
The Marjan group CEO stated: “The Ras Al Khaimah Tourism Development Authority aims to attract more than 3.5 million visitors by 2030.
“To achieve this, we need more hospitality keys and active investor participation in real estate, including hotels and apartments.”
The emirate it working on master plans – and residential development – to boost economic growth, according to the news outlet.
Wynn Al Marjan Island has been described as a US$3.9-billion venture. In November last year, Wynn Resorts Ltd said the inflation-adjusted cost of the project, including land, capitalised interest and fees, was US$5.1 billion. United States-based Wynn Resorts – parent of Macau casino operator Wynn Macau Ltd – is a 40-percent equity investor in the project.
In February, Wynn Resorts said it and its local partners – the other is RAK Hospitality Holding LLC – had collectively secured a US$2.4-billion construction loan facility, completing funding for the scheme.
Mr Al Abdouli of the Marjan group stated in his comments published on Monday that the resort would benefit the wider local economy. He said: “Supporting it requires residential units and apartments as well. Many businesses will be created there. It will be an integral part of Ras Al Khaimah’s economy.”
The Khaleej Times reported that recruitment of resort staff was under way, with “78 open positions listed as of September 21”.
In April, the news outlet reported Wynn Resorts as saying it had hired 80 employees for the venue, with plans to reach a 300 figure by year-end.
In August remarks, Craig Billings, CEO of Wynn Resorts, mentioned that the main tower on the Wynn Al Marjan Island complex had already reached the 61st-floor level, and the company was “on track to top out the tower later this year”.
In an October 2024 update, Wynn Resorts said it would have an exclusive, renewable 15-year casino licence for Ras Al Khaimah, and that the property could generate a minimum of US$1.33 billion annually in gross gaming revenue.
Earlier this month, it emerged that Wynn Resorts and its local partners have an agreement to permit development of a second integrated resort with casino in Ras Al Khaimah.
