Wynn faces pressure over UAE casino debut after Iran attacks

Investors in Wynn Resorts will be looking for answers this week about whether the Las Vegas-based casino operator will delay next year’s planned opening of its $5.1 billion UAE project because of the Iran war.

The company issued a statement in March that the conflict had briefly interrupted construction and that some employees were being offered to work abroad.

Now – after the UAE was attacked again this week by Iranian drones – Wynn is contemplating postponing its target opening in the spring of 2027, Bloomberg reports. Company executives will be questioned by investment bank analysts on Thursday when Wynn reports earnings.

The Wynn Al Marjan Island has been positioned as a catalyst for a wider investment boom in the northern emirate of Ras Al Khaimah, attracting luxury developers, hotel operators and retailers to the northern emirate. The resort is planned to include more than 1,500 rooms, a marina, shopping district and the Gulf’s first regulated gaming venue.

The UAE has pressed ahead with legalized gaming despite concerns elsewhere in the Gulf about casinos. Wynn rival MGM Grand is building a hotel in Dubai. 

The government created a regulatory authority in 2023 to license casinos, lotteries, sports betting, online gaming, and integrated resorts. Wynn Resorts received the country’s first commercial gaming license in 2024.