[A previous version of this story featured a headline highlighting the ratio of gaming to non-gaming revenues at Wynn Al Marjan. Following editorial review, IAG determined that key information required to calculate an industry-standard ratio was not available, creating the potential for a misleading impression. The headline has therefore been updated to focus solely on information that is unambiguous and not open to differing interpretations.]
Gaming revenues at Wynn’s US$5.1 billion UAE integrated resort development could reach as much as US$1.66 billion annually, according to information contained in an investor presentation released overnight. The company has also flagged total visitation days of visitors to Ras Al Khaimah at 3.5 days – 17% longer than the average length of stay seen in the US gaming hub of Las Vegas.
The latest investor presentation coincided with an Analyst and Investor UAE Market Tour this week, which included a visit to the Wynn Al Marjan Island site.
According to financial information contained within the presentation, gross gaming revenue at the IR is forecast to reach at least US$1 billion annually in a low case scenario up to US$1.66 billion as the high case. The base case has GGR coming in at US$1.33 billion. Net property revenue, after reducing GGR for player incentives and adding in non-gaming revenue, is forecast at a low of US$1.38 billion and a high of US$1.88 billion.
