Wynn Resorts CEO Craig Billings has revealed the company is assessing the situation regarding construction materials currently on the water awaiting delivery to the United Arab Emirates for its Wynn Al Marjan Island development, including the possibility of sourcing via alternative ports if necessary.
However, Wynn remains bullish on the development’s long-term prospects and has not changed its guidance range of between US$500 million and US$800 million in annual EBITDA, according to a Thursday note from JP Morgan analysts Daniel Politzer, Samuel Nielsen and Michael Hirsh.
Billings’ comments were made during the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum shortly after a company announcement in which it said construction had resumed on Wynn Al Marjan Island after a “brief pause” due to the Iran conflict.
