Wynn Resorts Delays $5B UAE Casino Resort Opening to September 2027, Adds $600M to Budget

Wynn Resorts has pushed back the opening of its $5 billion-plus Wynn Al Marjan Island casino resort in the United Arab Emirates to September 2027, delaying the project from its previously targeted spring 2027 timeline. The company also disclosed a $600 million increase to the project’s total budget, with half of that spike tied to disruptions from the regional conflict in the Persian Gulf.

Wynn CEO Craig Billings announced the updated timeline and cost figures during the operator’s second-quarter earnings call. The news follows an earlier warning in May, when Billings told investors during the first-quarter call that the project faced “a modest delay” tied to the ongoing conflict between the U.S. and Iran, though he did not offer a revised opening date at that time.

What’s Driving the Delay and Cost Increase

According to Billings, the regional conflict has rippled through global supply chains and disrupted insurance markets tied to the project, forcing the company to resource, reroute, or expedite materials and equipment to keep construction moving. Additional friction came from the movement of staff and consultants, along with other non-recurring issues that compounded the delays.

Of the $600 million budget increase, Billings said half is directly attributable to conflict-related disruptions, including higher material and shipping costs along with pre-opening and capitalized interest expenses tied to the extended construction timeline. The remaining portion reflects standard cost remeasurement and trade coordination typical of a project of this scale, independent of the regional situation.

Despite the setbacks, Billings maintained that construction is progressing rapidly and that pre-opening hiring and operations planning continue to move forward. He described the property as “one-of-a-kind,” predicting it will be “the most exciting resort opening globally in over a decade.”

Wynn Stays Bullish on the UAE Market

When pressed by a Wall Street analyst about ongoing geopolitical risk, Billings said the intensity of military conflict affecting the UAE has eased even as broader regional tensions persist. He noted that consumer supply chains have normalized and that Dubai’s airport has expanded flight capacity in recent months.

“This country absorbs pressure and keeps functioning, rather than gets knocked off course by it,” Billings said. “We didn’t underwrite a region with zero geopolitical risk. We underwrote a country with the demonstrated ability to manage through it.”

Billings pointed to September as the start of peak tourism season in the UAE, positioning the new opening date to align with strong seasonal demand. He said Wynn expects both a robust regional customer base and a healthy international pipeline once the resort opens, with demand for its core gaming product likely to exceed available supply.

Strong Results Elsewhere in the Portfolio

The delay in the UAE came alongside a mostly positive earnings update across Wynn’s existing properties. In Las Vegas, the company posted $215 million in adjusted earnings for the quarter, with casino revenue up 5% on higher drop and handle. Revenue per room grew 3%, and retail-lease revenue climbed 8%. Billings said the company is pacing ahead of last year’s Formula 1 week bookings and seeing accelerating group and convention demand heading into the back half of the year.

Encore Boston Harbor also had a strong quarter, generating $56 million in adjusted earnings while setting Q2 records for revenue per room and hotel revenue, with slot revenue up 1%. In Macau, Wynn reported $306 million in normalized VIP adjusted earnings, even as unfavorable VIP hold cost the operator roughly $9 million. Mass drop rose 5% during the quarter, though Billings noted some softness entering the third quarter tied to World Cup-related disruption and seasonal patterns before volumes picked back up in late July.

Wynn also outlined further Macau investment, including plans to begin construction before the end of 2026 on Enclave, a 432-all-suite hotel slated to open in 2029, along with a new event center and theater at Wynn Palace expected to be completed in 2028.

What It Means for the Broader Casino Industry

The Wynn Al Marjan Island project has been closely watched across the gaming and hospitality industry as the first fully licensed casino resort in the Middle East, a region that has historically restricted commercial gambling. Delays and rising costs on a project of this scale are a reminder of how geopolitical instability can affect even the most closely guarded mega-resort developments. Still, Wynn’s continued commitment — paired with strong performance at its Las Vegas, Boston, and Macau properties — suggests the operator views the long-term opportunity in the UAE as worth the near-term turbulence. Industry watchers tracking the intersection of casino expansion and emerging global markets will be watching closely as September 2027 approaches.