Wynn reserves land for second IR in UAE

Following a strategy similar to its developments in Macau and Las Vegas, Wynn aims to establish a major casino hub in the UAE long-term on Al Marjan Island in Ras Al Khaimah (RAK).

According to a shareholders’ agreement filed with the US Securities and Exchange Commission and reviewed by the Times, Wynn Resorts and its partners have reserved land for a second integrated resort (IR) on Al Marjan Island.

The Second Amended and Restated Shareholders’ Agreement dated June 21, 2024, details multiple development plots beyond the main Wynn Al Marjan Island resort.

These include a “Second IR Plot,” the “Janu Plot,” a “Luxury Hotel and Apartments Plot,” and a broader “Land Bank” as part of the master plan for Al Marjan Island.

This announcement aligns with statements made by Wynn’s CEO, Craig Billings, during the August 8, 2025, earnings call, where he reaffirmed that the UAE project remains a top priority for the company.

During the call, Billings highlighted steady progress in construction and shared plans to begin developing the company’s substantial land bank within the next year.

“Don’t forget we have a whole land bank there. And you shouldn’t be surprised over the course of the next year or so to hear us talk about using portions of that land bank,” he said.

The shareholders’ agreement clarifies the scope of development. It states, “the Second Closing Plots and delivered to the Board by Marjan and which shall include definitive Parameters of the Main Plot, the Land Bank, the Janu Plot, the Second IR Plot, the Luxury Hotel & Apartments Plot and the Infrastructure Plot, in each case, as if all relevant land reclamation works (which shall be specified in such plan) have been completed (the ‘Final Master Plan’).”

The Second IR Plot encompasses 593,870 square feet of existing land and plans for an additional 892,306 square feet of reclaimed land adjacent to the Second IR Base Plot, totaling nearly 1.5 million square feet.

The Janu Plot measures approximately 542,680 square feet, including 47,941 square feet of existing land and an additional 294,739 square feet of reclaimed land. Although its intended use remains unspecified, the development is speculated to be linked to the Janu hotel brand, a sister company of the Aman Group. In 2020, ultra-luxury hospitality group Aman launched Janu, which made its global debut in Tokyo.

Meanwhile, the Luxury Hotel and Apartments Plot includes 439,190 square feet of existing land plus 254,653 square feet of reclaimed land.

The agreement signed by Wynn Resorts, RAK Hospitality Holding, and Al Marjan Island LLC also outlines a potential public listing structure.

However, Michael Weaver, Wynn’s chief communications officer, told Arabian Gulf Business Insight (AGBI) this week that “no decisions would be made on plans for the second plot until after the opening of its first property in 2027” and clarified that no decision regarding an initial public offering (IPO) has been made at this time.

Weaver also highlighted RAK’s growth potential to the outlet, assuring that the non-compete clause “will not impede the company’s growth globally.”

Under this clause, Wynn and its affiliates are restricted from opening other Wynn-branded properties in the Gulf Cooperation Council for 10 years after the launch unless shareholders agree.

Although IPO plans remain in the preparatory stage as the company assesses market conditions and the progress of the venture, Wynn has shown clear long-term ambitions for its UAE property.

When the Al Marjan project was first announced, Wynn registered trademarks such as “Marjan Strip” and “Arabian Strip,” reflecting its goal to replicate the success of renowned casino districts like Macau’s Cotai Strip or the Las Vegas Strip.

Also in 2022, the company secured trademarks for “Encore Marjan” and “Encore Al Marjan,” which would allow the development of a sister hotel similar to its Wynn and Encore resorts in Las Vegas and Boston.

Industry estimates project the UAE gaming market could generate USD3 billion to USD8.5 billion in revenue, equivalent to about 1% of the UAE’s GDP.