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Wynn Resorts Ltd’s Al Marjan Island casino resort in Ras Al Khaimah, in the United Arab Emirates, is still viewed as capable of opening in the second half of 2027, despite geopolitical uncertainty in the wider Middle East. CBRE Equity Research said the project’s original timetable remains feasible even as management holds off from giving a firm date.
Timeline Gets Revised, But 2027 Remains On Track
According to Wednesday’s note from CBRE analysts John DeCree, it may be too soon for Wynn Resorts to publicly announce an opening timeline due to the current situation related to Iran. At the same time, the analyst believes that the 2027 mid- or late-year launch remains realistic.
Wynn Al Marjan Island is a US$5.1 billion project developed in partnership with local companies, and Wynn Resorts’ stake amounts to 40%. The corporation, which happens to be the parent of Wynn Macau Ltd, had set the opening of its UAE project for spring 2027.
According to the recent assessment, it seems that while the original spring deadline will change, the overall timeframe of 2027 will remain unchanged. This means that the project will have a certain degree of flexibility and at the same time will coincide with the medium-term expansion plans of the company.
Domestic Tourism Underpins Outlook
Comments by CBRE come after a recent set of statistics released by Ras Al Khaimah Tourism Development Authority, which indicated a record number of arrivals at the emirate in the first six months of 2026. As per the broker, Ras Al Khaimah received more than 670,000 visitors in the six months ending June 30, in spite of the unstable environment in the region.
The domestic visitor numbers were up 47%, while the number of visitors in May was stated to be the highest ever recorded in the emirate. Hotel room rates remained relatively stable compared with a year earlier.
CBRE said the figures highlight the strength of the domestic tourism market, which it believes can underpin Wynn Al Marjan Island alongside international demand. DeCree wrote that the firm remains positive about the long-term opportunity for Wynn Resorts and Ras Al Khaimah, and sees the first-half 2026 visitation numbers as further evidence of significant domestic demand.
Foreign Demand and Risk Factors
As for the foreign visits, it is worth noting that foreign demand recovered following the cancellation of travel advisories, which included the main markets like India, Russia, and the United Kingdom. Travel advisories have been restored since then, and the level of foreign demand is rather low.
Such a trend is explained by the overall geopolitical situation in the region. For Wynn Al Marjan Island, the domestic market appears to be providing a more stable foundation in the near term, while international demand is likely to be more sensitive to external events.
CBRE also highlighted Wynn Resorts’ capital commitment to the project, saying it is nearly complete. The brokerage said more than US$1.0 billion has already been invested, with an estimated US$350 million to US$450 million still to be spent as of the end of the first quarter of 2026.
Wider Development On Al Marjan Island
Earlier this month, Texas Capital Securities analyst David Bain also said the Wynn Al Marjan Island project remained on track for a 2027 opening, reinforcing the view that the timetable has not fundamentally changed.
The broader area around the resort is also seeing new development. A groundbreaking ceremony was recently held for Janu Al Marjan Island, a new luxury resort under the Aman Group’s Janu brand, located on the same land-reclamation area off the coast of Ras Al Khaimah.
Together, the latest visitor data, capital progress, and additional luxury projects point to continuing momentum on Al Marjan Island. While regional instability remains a factor, analysts currently see a mid- to late-2027 opening for Wynn’s resort as achievable within that environment.
Source: GGR Asia
