Wynn Resorts is advancing its development plans with the announcement of a new luxury project adjacent to its upcoming $5.1 billion Wynn Al Marjan Island resort in the United Arab Emirates. Known as Janu Al Marjan Island, this new venture will encompass 132 hotel rooms, a select number of residences, and standalone villas, all designed to attract high-end clientele and discerning guests.
Ama Group will manage the project, which is part of a joint venture that includes Wynn Resorts holding a 40% stake, while local partners Marjan LLC and RAK Hospitality Holdings LLC own the remaining 60%. Wynn Resorts plans to invest between $25 million and $50 million into the development, leveraging the expertise of the existing team from Wynn Al Marjan Island.
The introduction of Janu Al Marjan Island is expected to enhance the financial performance of Wynn Resorts. The company has noted strong sales in the UAE real estate market, indicating a promising outlook for attracting potential residents and guests.
Craig Billings, CEO of Wynn Resorts, emphasized the strategic importance of this development. He stated, “Beyond the standalone merits of the transaction, we also expect Janu’s high-quality customers will be additive to Wynn Al Marjan Island.” This sentiment highlights the anticipated synergy between the two projects, enhancing the overall appeal of the resort complex.
Construction Progress and Future Plans
Billings provided updates on the progress of Wynn Al Marjan Island, noting that construction is well underway, with concrete being poured on the final two floors. The tower is expected to reach its full height by the end of 2023, with the integrated resort slated for a 2027 opening. Marketing efforts are already in progress, targeting VIP clients through personalized engagement strategies.
“We are actively marketing to the folks that we want in the building on a one-to-one basis,” Billings explained. He added that broader marketing campaigns would be implemented closer to the opening date in 2026, focusing on creating awareness among potential guests.
Insights from Recent Acquisitions
In a related discussion, Billings reflected on insights gained from Wynn’s recent acquisition of the former Aspinall’s casino in Mayfair, London. He noted a significant overlap between the customer databases of Mayfair and the expected clientele at Wynn Al Marjan Island. The acquisition has provided valuable insights into game preferences and competitive dynamics in the region, which will inform strategies for the new resort.
Billings underscored the unique position of Wynn Al Marjan Island within the UAE market, highlighting that it will be the country’s only casino-integrated resort upon its opening. “Our future continues to be bright,” he remarked, expressing confidence that the project will generate substantial free cash flow and contribute to the growth of Wynn Resorts. Analysts predict that the market for gaming in the UAE could reach $5 billion in gross gaming revenue, further validating the potential of this ambitious development.
With the launch of both Janu Al Marjan Island and Wynn Al Marjan Island, Wynn Resorts is poised to significantly impact the luxury hospitality landscape in the UAE.
