Work has resumed in the UAE as Wynn Resorts has backed the government to keep the country safe, despite tensions between Iran, Israel and the US escalating.
With the conflict moving into its third week, Wynn Resorts has assured its investors that construction of its UAE resort is back on track, as the war expanded to the Strait of Hormuz, crippling a crucial global shipping lane.
Dubai airport was struck earlier in the week, as the UAE continues to intercept Iranian drones over its key infrastructure. Meanwhile, tens of thousands of residents and tourists have left Dubai and the surrounding region.
President Trump vowed that the war is nearing its end, whilst the Iranian regime has pledged that it is ready for ‘a long-term war of attrition’.
Recent escalations from Iran have caused oil prices to surge and significantly heightened the global economic impact of the war.
Wynn stated that, despite rising tensions, business remains as usual for many sectors of the UAE’s business community.
The company added: “[Wynn] continues to be in regular communication with the governments of the United States and Ras Al Khaimah, UAE, so that we can make informed decisions.
“The Company believes the broad defence posture of the UAE has worked extremely well, and we have confidence in the UAE’s ability to keep its population safe.”
Wynn’s UAE project forms a large part of the company’s plan to shift towards deriving most of its income from non-US dollar markets.
The resort, which will house the region’s first casino, is expected to cost around $3.9bn (£2.9bn) and open in March 2027.
However, with neither the US nor the Iranian government looking like they are prepared to back down, tourist confidence in the UAE is likely to dwindle, severely threatening the ability of Wynn to derive the expected value from its investment.
In addition, global pressure on resources such as oil also risks driving up the cost of construction for Wynn.
For now, the 2027 opening appears to remain on track as Wynn said that the majority of the design and development team overseeing the project were able to continue to work as normal.
It has also offered the opportunity for Wynn employees to work from abroad if necessary.
“We will continue to closely monitor the situation; any additional impacts on the project will be assessed in due course,” the company said.
Wynn joins a myriad of companies from the financial sector in assuring the stability of the country’s economy.
It has invested $3.9bn into a project to construct the UAE’s first integrated resort – the Wynn Al Marjan Island – and joins a much wider effort to project an image of safety of the country.
The Central Bank of the United Arab Emirates Governor Khaled Mohamed Balama described the UAE’s banking and financial sector as ‘resilient, strong, stable, and well-positioned to navigate regional developments’.
The country’s staunch approach to projecting an image of safety is unsurprising given how reliant it is on the tourism sector.
This has included tapping into a wealth of social media influencers and celebrities to back government efforts and even ‘thank the government for keeping them safe’.
This potential disruption at a critical juncture for Wynn as the company’s Chief Executive Officer, Craig Billings, recently revealed to investors that the company is planning to shift towards deriving most of its income coming from non-US dollar markets.
Billings said during the operator’s fourth quarter 2025 earnings call last month: “With the opening of Wynn Al Marjan, we are introducing a significant asset into a new and dynamic market.
“More broadly, we’re moving toward a portfolio where we expect over 55% of our revenues will be generated in non-US dollar-denominated markets, from assets we developed and operate, each meticulously designed around the most valuable consumers in these key markets.”
