Wynn reserves land for potential second resort in Ras Al Khaimah
Al Marjan Island site could host future UAE casino as Wynn eyes expansion beyond 2027 opening. It's beginning to look a lot like that market may belong to Wynn for some time...
Key points:
– Land designated for second integrated resort on Al Marjan Island
– Additional plots include space for luxury apartments and a Janu hotel
– No final decision on second casino or IPO made
Wynn Resorts and its partners have allocated a large parcel of land on Al Marjan Island for a potential second integrated resort in Ras Al Khaimah, as revealed in a shareholders’ agreement dated 21 June 2024 and published by the US Securities and Exchange Commission.
As reported by Arabian Gulf Business Insight, the agreement between Wynn Resorts, RAK Hospitality Holding and Al Marjan Island LLC outlines a “Second Integrated Resort Plot” covering nearly 1.5 million square feet, including reclaimed land. Should this site be developed into a casino resort, Wynn or one of its affiliates would be the exclusive operator.
The same agreement identifies other plots under a broader masterplan, including a “Janu Plot” measuring over 540,000 square feet and a “Luxury Hotel and Apartments Plot.” The Janu brand is associated with the Aman Group, in which Abu Dhabi’s Mubadala holds a stake, though its specific involvement has not been confirmed.
Good to know: The first Wynn resort on Al Marjan Island, which will house the Gulf’s first legal casino, remains on track to open in 2027
Wynn’s chief communications officer Michael Weaver said the company would not consider plans for the second site until after the initial property launches.
The agreement also outlines a process for a potential IPO or restructuring, though no such move has been confirmed. To protect the joint venture, Wynn is barred from launching other branded properties in the GCC for 10 years post-opening unless approved by its partners.
Trademarks such as “Encore Marjan Island” and “Marjan Strip” suggest Wynn’s broader ambitions to create a Las Vegas or Macau-style cluster of resorts in the emirate. Estimates suggest the UAE gaming market could be worth between US$3bn and US$8.5bn.
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