Wynn Resorts has announced plans to build its latest resort destination, Wynn Al Marjan Island, in Ras Al Khaimah, UAE. The project is a partnership between Wynn Resorts, Marjan LLC, and RAK Hospitality Holding LLC, with a total estimated cost of nearly $3.9bn. The resort will be Wynn’s first beachfront location, with design renderings inspired by the Arabian Gulf. Construction began earlier this year, and the resort is scheduled to open in early 2027. Wynn Resorts operates four locations, including Wynn Las Vegas, Encore Boston Harbor, Wynn Palace, and Wynn Macau. The company recently reported operating revenues exceeding $1bn for both the fourth quarter and full year of 2022.

The gaming industry in Macau has experienced a strong recovery following the easing of COVID-19 border restrictions. In April 2023, gross gaming revenue reached MOP$14.72 billion (US$1.82 billion), which was a 450% increase from April 2022, when Macau’s GGR was MOP$2.68 billion (US$332 million). This result was also 15.6% higher than the March 2023 GGR total of MOP$12.74 billion (US$1.58 billion), which had been the highest monthly GGR tally since January 2020. For the first four months of 2023 combined, Macau’s GGR is up 141% year-on-year to MOP$49.36 billion (US$6.12 billion). The change in fortunes for Macau’s casinos comes after the government announced the removal of almost all COVID-19 border restrictions, leading to an increase in visitation. The Macau government announced that visitor arrivals had […]