Despite the ongoing conflict in Iran, Wynn Resorts (NASDAQ: WYNN) is expected to open its $5.1 billion casino resort in the United Arab Emirates (UAE) sometime next year.
A recent analysis by CBRE Equity Research’s John DeCree and Max Marsh indicates that, due to the current turmoil in Iran, Wynn management may not be able to set a specific opening date for Wynn Al Marjan Island. However, they anticipate that this pioneering integrated resort—the first regulated gaming venue in the area—will open its doors next year.
“While the situation in Iran remains unpredictable, we believe a mid- to late-2027 opening is still plausible,” the analysts stated.
Wynn, based in Las Vegas, is set to release its second-quarter results on August 4. This could provide an excellent opportunity for the company to share updates regarding its Middle Eastern operations. Earlier in the year, management acknowledged that the war in Iran would result in a “modest delay” from the previously anticipated first-quarter 2027 opening of Wynn Al Marjan Island.
Positive Indicators for Wynn in UAE
Following the onset of the war, Iran targeted multiple sites in the UAE, including several luxury resorts, causing Wynn to halt construction and send some employees home to work remotely.
Nevertheless, despite the geopolitical challenges, the broader investment case for Wynn Al Marjan Island remains robust, particularly as Ras Al Khaimah—where the casino hotel is situated—continues to demonstrate impressive tourism statistics.
The Ras Al Khaimah Tourism Development Authority (RAKTDA) recently reported that the emirate attracted 670,000 visitors in the first half of 2026, even while the conflict in Iran persisted for much of that time.
“We are optimistic about the long-term potential for Wynn and Ras Al Khaimah. The data from the first half of 2026 underscores substantial domestic demand opportunities,” added the CBRE analysts.
Wynn Progressing in the UAE
While adjustments to the opening timeline for its integrated resort in the UAE are possible, Wynn remains dedicated to its projects within the emirates.
On Monday, construction commenced on the Janu Al Marjan Island luxury resort, which will be a non-gaming venue adjacent to Wynn Al Marjan Island. This project is a collaboration between Wynn and local developer Marjan, with estimates suggesting that Wynn may contribute up to $50 million.
Janu Al Marjan Island will feature 132 accommodations alongside numerous luxury residences and villas designed for the affluent tourists drawn to the UAE.