Wynn's Al Marjan Island Resort Expansion Gains Momentum, Secures Financing

Wynn Resorts, the global leader in luxury integrated resorts, has announced a significant expansion of its Al Marjan Island project in the United Arab Emirates (UAE), securing a $2.4 billion construction facility with a global syndicate of lenders. This strategic move underscores the company's commitment to the region and its potential for growth in the hospitality and gaming sectors.

The secured term loan facility, made available to Wynn Al Marjan Island FZ-LLC, a subsidiary of the 40%-owned joint venture, is denominated in a combination of AED and USD currencies, reflecting the bulk of the expected development expenditures to be incurred in AED. The term of the loan is seven years at a competitive market interest rate and is structured as a delayed draw facility, providing significant financial flexibility to the joint venture partners.

This landmark transaction represents the largest hospitality financing transaction in the history of the United Arab Emirates, demonstrating strong institutional confidence in both the project's viability and Wynn's execution capability. The 7-year term provides adequate runway for the resort to establish operations and begin generating returns.



Construction progress on Wynn Al Marjan Island is highly encouraging, with 64% of the structural concrete completed up to the 34th floor. The construction team is completing one floor per week, working toward a topping-off in December of this year. In the last 100 days, the resort tower has grown approximately 140 feet.

The resort will offer 1,542 rooms and well-appointed suites, with 1,226 guest rooms (80%) already structurally complete. The exterior façade window glazing is progressing with 2,840 of 13,734 panels completed, which is more than 20% of the total. Fit out is underway in approximately 1,121 rooms – including walls, floors, and ceilings, as well as all mechanical, electrical, and plumbing services.

In the low-rise portion of the building, the concrete and steel structures are a combined 70% complete. Exterior facades and interior fit out have commenced. Elevator and escalator installation across the property is also progressing.

Overlooking its own beautiful white sand beach with views of the Arabian Gulf and the distant Hajar Mountains, Wynn Resorts is developing the resort in partnership with Marjan and RAK Hospitality Holding. Wynn Design and Development is overseeing all facets of the project's design and construction.

Wynn Al Marjan Island will have twenty-two restaurants, lounges, and bars, as well as a nightclub and beach club. Guests will enjoy a luxury shopping promenade and a signature Wynn spa and salon. There will be an extensive 39,000 square foot poolscape adjacent to the beach. The 145,000 square-foot meetings and events center will include outdoor event terraces and lawns. The theater and a new resident show are also being created specifically for Marjan Island.

The successful securing of a $2.4 billion construction facility for Wynn Al Marjan Island represents a pivotal milestone in Wynn's global expansion strategy. The financing structure is particularly noteworthy for several reasons:

1. The dual-currency composition (AED/USD) demonstrates sophisticated financial engineering that provides natural hedging against currency fluctuations, while the delayed draw feature offers optimal capital efficiency by allowing funds to be drawn as needed, reducing interest costs during the construction phase.
2. The participation of major regional and international lenders, including Abu Dhabi Commercial Bank and Deutsche Bank, signals strong institutional confidence in both the project's viability and Wynn's execution capability. The 7-year term provides adequate runway for the resort to establish operations and begin generating returns.
3. Construction metrics are highly encouraging, with 64% structural concrete completion up to the 34th floor, 80% of guest rooms structurally complete, and 70% completion of low-rise structures. The scale of this development (1,542 rooms, 22 F&B venues, 145,000 sq ft event space) positions Wynn to capture high-value tourism and MICE business in the rapidly growing UAE market. The strategic location 50 minutes from Dubai International Airport enables access to a massive catchment area of international travelers.

With 40% ownership in the joint venture, this project represents a calculated risk-reward balance for Wynn, leveraging local partnerships while maintaining significant upside potential in a new market with favorable gaming regulations and strong tourism growth. The construction progress metrics reveal an impressively efficient execution strategy, with a systematic pace of one floor per week and 64% structural concrete completion up to the 34th floor. The current trajectory supports the 2027 opening timeline, with critical path milestones like the December topping-off appearing achievable.

In conclusion, Wynn Resorts' expansion of its Al Marjan Island resort project, coupled with the successful securing of a $2.4 billion construction facility, underscores the company's commitment to the UAE and its potential for growth in the hospitality and gaming sectors. The strategic location, impressive construction progress, and strong market trends position Wynn Al Marjan Island to become a premier luxury destination in the region.