Published on: December 17, 2025, 11:46h.
Updated on: December 17, 2025, 11:53h.
- CBRE analysts state that Wynn Al Marjan Island may emerge as the top profit generator for its parent company.
- The venue is likely to yield $230 million annually in licensing revenues.
- UAE’s casino is set to become the foremost fee provider within the Wynn portfolio.
According to an assessment by CBRE Credit Research, Wynn Al Marjan Island has the potential to become the primary source of profit and cash flow for its parent company, Wynn Resorts (NASDAQ: WYNN).
Highlighting the $5.1 billion casino resort in the UAE as a “credit positive” factor for Wynn, analysts Colin Mansfield and Connor Parks noted that it could generate up to $300 million in annual free cash flow. This venture holds promise for significant debt reduction once fully operational.
“The diversification and introduction of a new gaming market are considered positive, especially with its potential,” stated the analysts. “Wynn Al Marjan Island will enjoy a unique casino license for several years, attracting a diverse range of gaming and non-gaming patrons.”
Some market analysts predict that future contributions from additional integrated resorts could elevate the UAE’s annual gross gaming revenue (GGR) to between $3 billion and $5 billion. This forecast hinges on the anticipation of more casino licenses being granted, although Wynn Al Marjan is expected to be the sole player in the market for at least a few years.
Wynn UAE Casino’s Profit Potential
Wynn Al Marjan Island is also anticipated to be a steady source of profits for the parent company. During a recent analyst/investor tour in the UAE, management indicated the venue could yield annual licensing and management fees of at least $110 million, potentially rising to $230 million.
The midpoint of this estimate surpasses the approximately $140 million Wynn earned in 2024 from its Macau operations. The UAE casino is projected to add between $265 million and $460 million in yearly earnings before interest, taxes, depreciation, and amortization (EBITDA) and fees, although some analysts on Wall Street view this projection as conservative.
“Clarifying the movement of cash within the Wynn organization will be critical once Wynn Al Marjan Island opens and starts generating fees and distributions,” the CBRE analysts remarked. “These revenues will flow directly to Wynn Resorts Limited, the asset-light parent company that enjoys strong cash flows from management and licensing fees throughout its portfolio.”
Wynn owns 40% of the UAE project and is not liable for the complete $5.1 billion construction expense. The property is slated to open its doors in early 2027.
Importance of Fees
The UAE consortium will utilize Wynn’s intellectual property, including branding elements such as logos and trademarks. In essence, Wynn is capitalizing on its stature as one of the world’s leading gaming brands.
The strategic use of the Wynn brand may not receive as much attention in the broader UAE analysis, but it could significantly impact stock performance as the development evolves.
“Wynn Al Marjan Island has the potential to be the largest provider of fees, underscoring its relevance in the equity story as it can directly nurture shareholder returns,” conclude Mansfield and Parks.