Wynn earmarks land for second UAE integrated resort: Report
Wynn Resorts and its partners have set aside land for a potential second integrated resort (IR) on Al Marjan Island in Ras Al Khaimah, according to an Arabian Gulf Business Insight report. Details of the plan were disclosed in a shareholders’ agreement signed in June 2024 by Wynn Resorts, RAK Hospitality Holding, and Al Marjan Island LLC, and later filed with the US Securities and Exchange Commission (SEC).
The agreement outlines several development plots in addition to Wynn’s flagship resort, which is already under construction and scheduled to open in 2027. The sites include a “Second Integrated Resort Plot,” a “Janu Plot,” a “Luxury Hotel and Apartments Plot,” and a wider “Land Bank.”
The report stated that the second integrated resort site spans 593,870 square feet of existing land, with an additional 892,306 square feet to be reclaimed, totaling nearly 1.5 million square feet. Should a casino be developed on this site, Wynn or an affiliate will serve as its sole operator.
Additional plots under masterplan
The so-called Janu plot covers around 542,680 square feet of combined existing and reclaimed land. While its specific use was not confirmed, the name aligns with Janu, a hospitality brand under the Aman Group, in which Abu Dhabi’s Mubadala holds a stake.
Another designated parcel, the Luxury Hotel and Apartments plot, consists of 439,190 square feet of existing land and 254,653 square feet to be reclaimed. Together, the report stated that these parcels form part of a broader master plan that positions Al Marjan Island as a multi-resort hub with potential for multiple branded properties.
Wynn has also secured trademarks including “Marjan Strip,” “Arabian Strip,” and “Encore Marjan Island,” indicating long-term ambitions for the site that mirror developments in Las Vegas and Macau.
IPO clause and restrictions
The shareholders’ agreement includes provisions for a potential public listing. Options under consideration include converting the joint venture into a public joint stock company, inserting a new holding structure, or merging with infrastructure entities. No decision has yet been taken on whether an initial public offering will go ahead.
According to the report, the agreement also includes a non-compete clause that prevents Wynn or its affiliates from developing other Wynn-branded hotels, casinos, or residences in the GCC for ten years after the launch of the Al Marjan resort, unless the partners approve.
First resort moves toward 2027 opening
Meanwhile, construction is ongoing for Wynn’s first property in the UAE, a $3.9 billion integrated resort that will be the Gulf’s first legal casino. The resort will become expected to become Wynn’s tallest development worldwide and is projected to open in early 2027. The resort will include 1,530 rooms and suites, high-end dining venues, entertainment facilities, and a gaming floor.
The company has partnered with IGY Marinas and Marina Solutions International to develop the Al Marjan Marina, which will support 101 berths for yachts up to 85 metres. The marina will feature advanced docking systems, concierge services, and facilities aimed at ultra-high-net-worth individuals.
Market potential in the UAE
Analysts earlier forecasted that the UAE gaming market could generate between $5 billion and $8.5 billion annually, representing about 1 percent of the Gulf country’s GDP. The resort’s location, just under an hour from Dubai International Airport, is expected to provide it with strong access to international visitors, alongside the UAE’s large expatriate community.
