Wynn resumes work on UAE project

Wynn Resorts has resumed construction of its luxury resort in Ras Al Khaimah, UAE.

Earlier this month, following Iranian attacks on UAE sites including Dubai Airport and The Palm Hotel, Wynn Resorts said it was “closely monitoring the situation” with “plans in place to ensure the safety of our employees.”

On Wednesday, Wynn announced that “project construction has resumed” at its Wynn Al Marjan Island integrated resort “following a short pause” due to the Middle East conflict.

“The company continues to be in regular communication with the governments of the United States and Ras Al Khaimah, UAE, to make informed decisions,” and highlighted that “steps have been taken to ensure the safety and security of all employees on site.”

“Wynn employees have been offered the option to work from abroad if their home embassy recommends it.”

No delays have been reported for the Ras Al Marjan Island property’s opening.

Wynn noted that “for broad segments of the population, business continues to follow normal patterns,” with its design and development team and resort executives “able to continue their work consistently.”

The company praised the UAE’s “broad defense posture” as having “worked extremely well” and expressed confidence in the “UAE’s ability to keep its population safe.”

Wynn also thanked its employees and construction teams for their “truly remarkable commitment and professionalism during this extraordinary time.”

Meanwhile, a majority of Wynn’s U.S.-based design and development team remains on-site for the project, while roughly 7% to 8% of staff have opted to return home, according to a Wednesday note from JP Morgan, citing company management.

The note added that Wynn is assessing the status of materials and furniture, fixtures, and equipment (FF&E) currently in transit and is considering alternative ports if needed to ensure supply continuity.

On project economics, Wynn expressed confidence in its 2026 guidance, targeting USD1 billion to $1.7 billion in gross gaming revenue (GGR), $500 to $800 million in EBITDAM, and 10% to 16% cash returns.

JP Morgan also noted strong expectations for the hotel side of the resort, stating Wynn can fill its 1,500 rooms almost entirely through its existing gaming customer database and has the flexibility to expand room capacity from its land bank, whether under the Wynn brand or through a partner/operator.

The institution added that the resort expects a strong casino ramp-up, supported by its short-term monopoly, concentrated regional wealth, international gaming demand, and limited local supply.