Wynn Resorts revealed via an investor presentation on Tuesday that the total estimated budget for its integrated resort development in Ras Al Khaimah, United Arab Emirates was US$5.1 billion, of which the company’s equity contribution would be around US$1.1 billion.
The budget includes land, fees and capitalized interest – around US$4.55 billion would come from direct development costs – and would be largely funded by US$2.4 billion of debt, with Wynn adding that debt raising is already oversubscribed amid “strong demand from local and international investors”.
Wynn’s own contribution currently sits at around US$200 million with another US$900 million still to come.
The presentation, made public during an investor day being held at Wynn Las Vegas on the same day as G2E began in earnest nearby, also saw Wynn outline is revenue and profit estimates for Wynn Al Marjan Island, including annual GGR of up to US$1.67 billion.
