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Wynn Resorts confirms September 2027 opening for Al Marjan Island Resort
['Kathryn Evans']
iGB
Speaking to analysts on Tuesday Wynn Resorts CEO Craig Billings said it had increased the resort's budget by an estimated $600 million, with half attributed to the conflict in Iran.
During its Q2 earnings call Wynn Resorts said it had pushed back the opening date of its Al Marjan Island in Ras Al Khaimah to September 2027.
In an analyst note following the operator’s earnings call Deutsche Bank said it viewed the confirmation of a concrete opening date for the IR as “a positive step”.
In its Q1 earnings call, CEO Craig Billings admitted a delay to the opening date was inevitable.
‘A rapid pace’In its Q2 release Wynn reported it had contributed $48.1 million during the quarter to the development of the Wynn Al Marjan Island resort, where it holds a 40% stake.