Such is the allure of the UAE as a land based gambling market, Wynn Resorts is reportedly already setting aside space for a second development in the region.
The expansion is reported to be alongside the Al Marjan Island project, forming a key part of a significant wider project for Wynn.
A report by Arabian Gulf Business Insight (AGBI) detailed that ahead of the market opening in 2027, shareholders at Wynn are already looking ahead to expansion.
Wynn has already set out its focus on the UAE market, obtaining a $2.4bn construction facility to finance the development of Wynn Al Marjan Island.
Now it seems the operator’s appetite for growth in the market is showing no signs of dwindling, even prior to formalisation of the legislation.
Wynn has been one of the earliest movers within the enticing Middle Eastern market, clearly seeing a high ceiling in the flourishing global tourist economy.
Issuing its third quarter financial results last year, the group emphasised just how prosperous the project could be – describing it as “must-see”.
Craig Billings, CEO of Wynn Resorts, commented: “Importantly, we are also continuing to invest in growing the business with construction on Wynn Al Marjan Island rapidly advancing.
“We are confident the resort will be a ‘must see’ tourism destination in the UAE and expect that it will support strong long-term free cash flow growth. At the same time, we continue to increase the return of capital to shareholders through our recurring dividend and opportunistic share repurchases.”
The potential prosperity of the gaming market in the Middle East was explored lauded during a panel at the recent SBC Digital – Middle East and Africa 2025 two-day webinar event.
During the event, Joseph Borg, Partner at WH Partners emphasised the establishment of a gambling framework and regulator in the UAE represents a “momentous shift in the gaming industry”.
He continued by outlining that current legislation in the country could also allow for a UAE licence to be “passported” to other neighbouring countries part of the GCC.
“Something very interesting that you can find in the law is, tied to what you mentioned about the greater part of the region, so outside of the UAE, is that the law already caters for passporting of the license across GCC countries. I believe that that is in itself, although it means nothing today, it already sheds some light on what the plans are for the future.
“When we talk of GCC, we’re talking about the other countries in the region – Qatar, Bahrain, Saudi Arabia, Kuwait, Oman. Technically, they’re already planning that a license from the UAE could possibly be passported to other GCC countries, and I think that in itself is extremely interesting.”
