Escalating hostilities in the Middle East could delay the 2027 grand opening of Wynn Al Marjan Island, a US$5.1 billion integrated resort in the United Arab Emirates. The IR is currently under construction in Ras Al Khaimah, UAE – right in the crosshairs of the ongoing Gulf War.
Site work paused briefly on 28 February, after US and Israeli forces attacked Iran in the military action dubbed Operation Epic Fury. At the time, Wynn advised employees in the region to work from abroad “if their home embassy recommends”.
Construction resumed in March, but tensions are rising as the war rages on. On Monday, a senior UAE official reportedly told Israel it was prepared to retaliate after Iran launched missiles and drones at targets in the Middle Eastern country. “The Iranian regime has begun attacking us,” the official reportedly told Israeli news outlet N12. “We will strike back.”
War could have long term impact on tourism
Located on more than 60 hectares (142 acres) overlooking the Arabian Gulf, Wynn Al Marjan Island has been touted as “the ultimate resort destination”, with “sumptuously designed rooms and suites, outstanding dining experiences, world-renowned designer boutiques and activities that include expansive poolscapes, private beach and deepwater marina”.
All will cater to Wynn’s target market: the rich and super-rich who already patronise its properties in Las Vegas and Macau. Last December, in a significant milestone, crews marked the topping off of the IR’s 70-story hotel tower.
Now it seems guests may have to wait to sample the accommodations, as Iran continues attacking UAE ports, airports and commercial districts. According to Reuters, consultancy Tourism Economics says tourism arrivals to the Middle East could drop by as much as 38 million due to the conflict, with a potential loss of up to $56 billion.
Also in the crosshairs: a new hotel under way in Dubai by Wynn rival MGM Resorts International. However, a source told Bloomberg the MGM project – which also is angling for a casino licence – remains on track despite a decline in visitation.
“The tourism business in that particular neck of the world is down to like 15%, give or take,” MGM CEO Bill Hornbuckle said during a 29 April earnings call. “It will take some recovery time no matter what happens here over the next couple of months. But long-term, we remain very excited.”
Marjorie Preston
Marjorie began her gaming career in 2007 and has focused on Asian gaming markets since 2020. Outside of work, she writes about travel and film and plays the drums.
Original article: https://igamingbusiness.com/casino/will-gulf-war-delay-opening-of-wynn-uae-resort/
