20% return on investment<\/a>. \u00a0What\u2019s clear is that the UAE plan is pivotal in terms of bringing needed geographic diversification to Wynn\u2019s portfolio.<\/p>\n<\/div>\nThat\u2019s particularly true at a time when the company\u2019s Macau operations remain a drag on overall performance. Wynn\u2019s third-quarter results were another case of solid showings in Las Vegas and Boston, and disappointment in Macau.<\/p>\n
Currently, Al-Marjan Island is the only one of the seven emirates where wagering is permitted, indicating Wynn\u2019s property could be a quasi-monopoly for some time.<\/p>\n
Wynn Could Open UAE Doors<\/h2>\n
While Wynn could be a player for a New York City casino license, UAE remains the focus of its international expansion efforts.<\/p>\n
\u201cSo we’re very focused right now on the UAE and getting that right. It’s a tremendous, very high return opportunity for us, we expect. And so that’s really the sign of our — that’s really the focus of our design and development efforts at the moment,\u201d added Billings.<\/p>\n
Wynn\u2019s progress in UAE is likely to be closely monitored by rivals because the region is viewed as one of the last untapped casino frontiers in the world.<\/p>\n
Rival Caesars operates a high-end hotel in Dubai, and MGM Resorts International is constructing a similar property there. Gaming isn\u2019t yet in the cards for those resorts, but the casino floodgates could open if Dubai changes its tune.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"On its third-quarter earnings conference call late Wednesday, Wynn Resorts (NASDAQ:WYNN) provided analysts and investors with an update on its upcoming integrated resort on Al-Marjan Island in the United Arab Emirates (UAE). The project was announced earlier this year and is expected to be open at some point in 2026. On the call, Wynn CEO […]<\/p>\n","protected":false},"author":46,"featured_media":242529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62,81883],"tags":[81913,81897,82205],"acf":[],"yoast_head":"\n
Wynn Expects To Update Investors On Its UAE Project In Early 2023<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n