Wynn Plant Casino-Projekt in Emiraten

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Peter Brandt January 31, 2023

Wynn Resorts wants to build a huge resort in the united Arab Emirates by 2026. The US gambling group recently announced this by press release. According to the industry analysts, the project will be created several billion costs and in cooperation with the real estate company “Marjan” and the local catering group “RAK Hospitality Holding”. The ambitious integrated resort (IR) is to be built on the artificial island of Al Marjan in the Emirate Ras Al Khaimah.

Wynn Resort hopes that the integrated resort is enormous tourism. ((©️Will Waters/Unsplash)

Gambling temple despite the ban

That Gambling is strictly prohibited in the emirates. The government categorically rejects any forms of play that bring in real money profits and rigorously pursues the violations of the law. Up to two years in prison are threatened with an infringement.

The restrictive legal framework applies primarily to the domestic population. For There are potential exemptions, however, who first have to be worked out with the gambling providers. Such an exception is also said to have secured Wynn Resorts for his ambitious project in the Emirat Ras Al Khaimah. The US gambling group is in direct exchange with the “Tourism Development Authority” (Raktda), which would like to set up a department for regulation integrated resorts.

Uncertain regulation. Industry experts assume that the IR’s gambling offer can only use tourists. Nevertheless, there is also the possibility of another legal handling. Since the project will not be completed until 2026, there would be an insecure regulation at the current time.

Gigantic resort on Al Marjan

Al -Marjan Island a total of four artificial islandsMeasure a 7.8 kilometer section together and offer a 23 -kilometer bank promenade. Countless luxury hotels and housing estates are located on the poured islands.

The IR of Wynn should be Insert perfectly into the unique infrastructure And in a central location – around 15 minutes from the Ras Al Khaimah International Airport and 45 minutes from Dubai International Airport. A luxury hotel on the beach is planned with more than 1,000 rooms, all of which offer a view of the Arabic Gulf. A marina is also considered.

The entire Project Become a Include total area of 250,000 square meters, on which different facilities should find space. This would include entertainment, attractions as well as several restaurants and lounges. A luxurious high-end shopping center serves as a real eye-catcher. Membership and congress facilities are also considered for business people. The entire project attaches great importance to sustainability, which is to be guaranteed by the control of the “Best Practices”.

In the press release, Wynn Resorts did not state how expensive the construction project will ultimately be, but industry analysts go from at least Two billion US dollars as a total investment out. Since the gambling group in all likelihood strives for a minority stake, there was a self-employment of around $ 333 million.

Source of money. In order to be able to finance the casino project in the Emirates, Wynn, according to reports from the “New York Post”, intend to sell its sports betting and igaming division. The US gambling group is planning with income beyond the $ 500 million mark.

No information on the gambling offer

To date, Wynn Resorts has not only stuck silently about the financial framework that IR demands. The company has not yet published any information about the planned gambling offer. However, it is expressly pointed out in the press release that the Luxury resort also offer gambling games will. The group does not reveal whether this is a classic casino or detached areas.

Craig Billings, the new CEO of Wynn Resorts, could not be looked at the cards, but was euphoric. In his opinion, the United Arab Emirates still Unused opportunities for gambling and tourism industry. Al Marjan as a location should be emphasized:

“Al Marjan Island is an untouched environment and an ideal location […] for us to offer our guests a unique experience for which Wynn Resorts is known. The region offers enormous potential for the hospitality industry and the tourism industry. We look forward to building an integrated resort in Ras al Khaimah. ”Craig Billings, CEO von Wynn Resorts Official press release from Wynn Resorts

Billings emphasized that not only the consortium around Wynn would benefit from the construction of the resort. The gigantic construction project is unique and would offer the local economy in the Emirate enormous added value. So would Created jobs and the general economic growth boosted will. Suppliers and related industrialectors are also in a good position through the IR, since the order situation will increase automatically.