Wynn Al Marjan Island is expected to generate $355 million in annual cash flow for Wynn Resorts once the UAE resort reaches stabilised operations, according to CBRE. The broker clarified that the figure refers to a fully stabilised year, not the opening months, and would deliver a 22% unlevered annual return on Wynn's invested capital.
Wynn has committed roughly $1.06 billion in equity to the joint venture so far. Another $525 million to $650 million remains to be funded, bringing total equity to between $1.59 billion and $1.71 billion. The project budget recently increased by $600 million, of which Wynn's 40% share amounted to $240 million. CBRE attributed half the cost increase to fallout from the regional conflict involving Iran, with the rest driven by standard construction inflation at this scale. Opening has been pushed to September 2027, a delay of roughly six months. The broker views both the schedule slip and the 11% budget increase as 'relatively minimal' given the regional environment.
The case for the project is supported by a tourism surge in Ras Al Khaimah: domestic visitor arrivals rose 47% year-on-year in the first half of 2026. CBRE sees that as confirmation of the depth and resilience of the local market. The broker believes Wynn Al Marjan Island will be the only full-scale gaming resort in a large, densely populated catchment area. That underpins its optimistic long-term outlook. The one caveat: timelines could shift again if Middle East instability persists.
