Wynn Resorts’ Chief Executive Officer Craig Billings has once again praised the United Arab Emirates’ ability to weather the impact of tensions in the Middle East.
During the company’s investor call, Billings reaffirmed the September 2027 expected opening date for Wynn Al Marjan Island resort, which will be the first casino to open in the United Arab Emirates under the country’s new gambling regime.
Regional instability caused by conflict in the Middle East has forced the firm to raise costs by around $600m and temporarily halt construction earlier this year – pushing back an initial planned opening in Spring 2027.
Billings said: “We acknowledge the uncertainty in the region. But as I’ve said before, we are firm believers in the resilience and adaptability of the UAE. I believe Wynn Al Marjan Island will be the most exciting integrated resort opening globally in over a decade.”
Wynn invested a further $62.2m into the project during the quarter, bringing its total contributions to $1.12bn. The operator expects to invest a further $465m to $590m before opening.
Reassessing the options
Billings reassured investors that the planned capacity of the resort means that demand will largely outstrip supply, even as tourism has struggled in the face of the conflict.
According to government figures, Dubai welcomed 6.97 million international visitors through August, compared to 19.59 million in the same period of 2025.
Billings said: “You have an extremely wealthy local population, many of whom are expats, many of whom are accustomed to gaming and casino visitation. You have certain demographics that have no problem travelling there today. We are opening the only joint for thousands and thousands and thousands of miles.”
In the words of Brian Gullbrants, Wynn’s Chief Operating Officer, the area around the project was ‘full of Russians and Russian families’ during a recent visit.
Optimism for the UAE was tempered by a poor financial performance in Q3 driven by an unfavourable hold in Las Vegas and labour disruptions at the company’s Boston property due to strikes.
The company reported operating revenue of $1.69bn, down from $1.83bn reported in the same period last year. Meanwhile, adjusted property EBITDAR was similarly down from $570.1m in Q3 2025 to $464.2m.