Wynn foresees slight delay in UAE launch amid ongoing Middle East tensions

(AsiaGameHub) –   Wynn Resorts has reassured investors that construction of its Al Marjan Island casino in the UAE will proceed despite the impact of ongoing tensions in the Middle East.

As the conflict between the US, Israel and Iran continues, the UAE has experienced increased missile attacks, disrupting various aspects of the country’s economy. 

Reports earlier this week from Bloomberg suggested that Wynn would be forced to extend construction beyond the expected opening date of spring 2027.

Craig Billings, the company’s Chief Executive Officer, confirmed that there will be a ‘modest delay in our opening timeline’ as Wynn is forced to address ‘logistical and shipping challenges in the region’.

Despite this, he remained bullish on the prospects of the multi-billion-dollar project, in which Wynn holds a 40% stake, and the wider ability of the UAE to bounce back as a leading tourist destination.

Speaking on Wynn’s first-quarter earnings call, he said: “This is a country that has navigated multiple regional conflicts over the past two decades and has consistently come out stronger. They’ve done that by investing in infrastructure, diversifying their economy, and positioning themselves as a neutral hub for commerce and tourism. 

“That playbook hasn’t changed. What I’d also point out is that the UAE’s response to this conflict has, if anything, reinforced their credibility on the security front. Their defence infrastructure performed exceptionally well. I think the international community, I hope, took notice of that.”

According to Wynn, the $100m it contributed to the project during Q1 2026 pushed its total spend on the joint-venture, which began construction in 2024, to over $1bn.

Billings admitted that the firm will have to ‘wear’ some impact on the planned budget for the casino as a result of increased shipping costs and the delay in opening its doors.

However, he reiterated that Wynn Al Marjan is viewed as a long-term project for Wynn in the emerging UAE market, and the company is not ‘overthinking’ the short-term consequences.

“We’re thinking over a 10-year period, 20-year period, and we’re thinking about the long arc of that property and the opportunity that that property can deliver to our shareholders. We’re really not overthinking it, to be honest,” said Billings.

Wynn buoyed by Macau and Las Vegas success

Wynn reported a strong financial performance in Q1 2026, primarily driven by growth in the gaming hubs of Las Vegas and Macau.

Operating revenue topped $1.86bn, up from $156.4m over the same period in 2025. Net income also grew from $72.7m in Q1 2025 to $120.5m in the first three months of 2026.

Operating revenues from Wynn’s Las Vegas Operations were $661.9m, an increase of $36.6m from the $625.3m in Q1 last year.

Meanwhile, operating revenues from Wynn Palace in Macau grew by $123.4m to $659.3m. However, revenues at Wynn Macau remained flat at $329.9m.

Wynn’s Vegas growth comes despite visitor numbers and gaming win falling in Las Vegas falling in the opening months of the year. According to the Nevada Gaming Control Board, gaming win declined by 6.55% in January 2026 to $1.34bn.

“Our first quarter results reflect the strength of Wynn’s business across all of our markets,” said Billings.

“Las Vegas delivered another quarter of EBITDAR growth and continued to make gains in gaming market share. In Macau, we saw a meaningful increase in gaming volumes year-over-year alongside healthy market share.”