The opening of the Wynn Al Marjan Island casino resort in the United Arab Emirates, originally scheduled for spring 2027, has been postponed until September, adding another $600 million to the project's cost on top of its current $5 billion budget.
During a Q2 earnings call, Wynn Resorts CEO Craig Billings attributed the delay to ongoing conflict between the United States and Iran, which has affected global supply chains and insurance markets, as well as internal challenges, including the movement of staff and consultants.
"These disruptions have impacted the timing and cost of the project," Billings said. "On the timing, we now expect the project to open its doors to the public in September 2027. With respect to budget, we're increasing the total project by approximately $600 million. Of that, half is directly attributed to disruptions from the regional conflict: material cost increases, shipping cost increases and the pre-opening and capitalized interest costs associated with the extended construction timeline. The remaining portion reflects remeasurement, trade coordination and other costs you expect on a project of this scale and duration, independent of anything happening in the region.”
Despite the added cost and delayed opening, Billings struck an optimistic tone about the 1,530-room property's prospects. Construction is continuing at a brisk pace, he said, while pre-opening hiring and other operational efforts are already ramping up. He also pointed to easing military tensions in the Persian Gulf, resilient supply chains and expanded airlift through Dubai International Airport as reasons Wynn remains confident in the project.
