Wynn Secures AUD 3.7B for UAE Project

Wynn Resorts has secured an AUD 3.7 billion loan (2.4 billion USD) to finance the construction of its Wynn Al Marjan Island resort complex in Ras Al Khaimah, UAE. This marks the first resort in the country to include a casino, with Wynn Resorts becoming the first and, so far, only company to receive a gaming license in the UAE.

While construction is set to wrap up by year’s end, the resort’s doors won’t open until 2027. The complex, roughly the size of Crown Sydney, will house 1,542 hotel rooms across various categories, a 15,000-square-metre shopping centre, 22 restaurants, multiple pools, a theatre, bars, and gaming areas. It’s about a 50-minute drive from Dubai International Airport. The resort is expected to generate annual gross gaming revenue (GGR) between AUD 1.5 billion and AUD 2.6 billion.

This AUD 3.7 billion loan stands as the largest ever secured in the UAE for a tourism development project.