Wynn Al Marjan Island: cost rises to $5.7 billion as opening moves to September 2027

Wynn Resorts said with its second-quarter 2026 results that Wynn Al Marjan Island in Ras Al Khaimah will open in September 2027 and that construction cost has risen by $600 million to about $5.7 billion, Gulf News reported on 5 August 2026. Earlier coverage had used $5.1 billion (about Dh18.7 billion), and the first estimate in 2023 was about $3.9 billion.

The schedule

In February 2026 Khaleej Times reported that work was on schedule: the 70-storey hotel tower had topped out in late 2025, interior work was under way, and Wynn chief executive Craig Billings had given the opening target as the first quarter of 2027 in the 2025 annual report. The Q2 update moved that to September 2027. Gulf News gave no reason for the later date or the higher cost and quoted Billings as saying construction was progressing at a rapid pace.

Ownership and funding

Wynn Resorts owns 40% of the joint venture that is building the resort. It contributed $79.2 million in the fourth quarter of 2025, bringing its total to $914.2 million, and $48.1 million in the second quarter of 2026, bringing its total cash contribution to $1.06 billion. Khaleej Times reported that Wynn expects to put in $375 million to $400 million of equity in 2026 and $75 million to $100 million in 2027, with $450 million to $550 million of equity still to come at that point. Wynn expects the project to add about $345 million in EBITDAR, its measure of cash flow and management fees.

Wynn’s 2025 net income attributable to the company was $327.3 million, down from $501.1 million in 2024. In the second quarter of 2026 operating revenue was $1.86 billion, against $1.74 billion a year earlier, and net income attributable to Wynn was $140.1 million, up from $66.2 million. Cash and equivalents were $1.57 billion, excluding short-term investments in Macau.

The licence

The General Commercial Gaming Regulatory Authority issued Wynn the first commercial gaming facility licence in the UAE. Gambling Insider dated the announcement to Friday, 4 October 2024. Billings has estimated the UAE’s gross gaming revenue at $3 billion to $5 billion and said Wynn expects two additional competitors in the market.

What is being built

Wikipedia lists 1,530 rooms, suites and residences, a 225,000 square foot casino plus a second gaming floor on the 22nd storey, and 22 planned restaurants and lounges including Delilah and Ducasse. There is 7,708 square metres of convention space, a 98-berth marina for yachts up to 85 metres, a 550 metre beachfront and lagoon, and a 548 metre bridge to the mainland expected in late 2026. The resort plans to employ more than 9,000 people, housing up to 80% of them in a 15-building staff village.

Wynn began hiring in May 2025. One report says Max Tappeiner became president of Wynn Al Marjan Island in September 2024, taking over from Thomas Schoen. Three of the resort’s kitchen and restaurant-management vacancies are listed on this site.

People behind the company

Billings joined Wynn in March 2017 and has been chief executive since February 2022. Steve Wynn, who co-founded Wynn Resorts and built The Mirage and Bellagio, stepped down as chief executive in February 2018 after allegations he denied. The Ras Al Khaimah government has been led since 2010 by Sheikh Saud bin Saqr Al Qasimi, who set up the emirate’s Tourism Development Authority in 2011; the emirate reported a record 1.35 million visitors in 2025.