Forbes: Wynn Resorts’ $5 Billion Bet on UAE’s First Casino Sets Stage for New Entertainment Capital

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Wynn Resorts is investing $5.1 billion to construct a luxurious casino resort on Ras Al Khaimah’s Al Marjan Island in the UAE, marking the country’s first-ever licensed gaming facility. 

The project includes a 1,542-room tower, a 225,000-square-foot gaming floor, 16 restaurants, and extensive entertainment amenities. Slated for completion in 2027, the resort aims to position Ras Al Khaimah as a global entertainment hub.

This development represents a significant shift in the UAE, where gambling has historically been prohibited due to Islamic law. The recent establishment of the General Commercial Gaming Regulatory Authority, tasked with overseeing gaming activities, reflects the UAE’s commitment to diversifying its economy. 

Wynn’s resort has already spurred a real estate boom and attracted interest from other developers, including MGM Resorts, which is planning its own casino-focused ventures in Abu Dhabi and Dubai. Wynn expects high revenue from its new location, supported by the UAE’s proximity to major international markets and an affluent expatriate population.

The UAE’s ambition to emulate Las Vegas-style entertainment includes constructing themed resorts and hosting theatrical productions similar to Cirque du Soleil’s performances. Ras Al Khaimah’s tourism sector is projected to grow rapidly, aiming for 3.5 million visitors by 2030, up from 1.2 million in 2023. The island, currently limited to six hotels, is expected to welcome numerous new luxury properties.

Wynn’s Al Marjan Island development is anticipated to significantly impact the UAE’s economy, with tourism revenues projected to surge and gaming potentially contributing an estimated $8.5 billion annually. As the UAE embraces gaming and entertainment, Ras Al Khaimah is poised to become a premier destination in the region’s leisure industry, comparable to global entertainment capitals.

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