Wynn Resorts on Tuesday announced a multi-billion-dollar plan to develop a casino-resort on the man-made Al Marjan Island in Ras Al Khaimah, United Arab Emirates.
The new property is considered the Las Vegas-based company’s “first beach resort,” according to the announcement. A tentative plan includes a hotel with at least 1,000 rooms. Details of the gaming floor weren’t announced.
The new resort is in the initial stages of design and development. It will need an integrated resort licence from the Ras Al Khaimah Tourism Development Authority.
Wynn Resorts’ investment is not known at this time. The project should be finished in 2026.
“Al Marjan Island is a pristine setting and an ideal greenfield location for us to create the one-of-a-kind guest experiences for which Wynn Resorts is renowned,” Craig Billings, newly appointed CEO of Wynn Resorts, said in a statement. “The region offers tremendous potential for the hospitality and tourism industry, and we are excited about the prospect of developing an integrated resort in Ras Al Khaimah.”
Shares of Wynn Resorts were up 2 percent at market close on Tuesday and up about 1.3% in premarket trading on Wednesday. Those gains came alongside overall stock market declines.