Wynn Resorts announced Thursday that the opening of the $5 billion Wynn Al Marjan Island casino resort in the United Arab Emirates, previously scheduled for spring 2027, will face a “modest delay” due to the ongoing conflict in the region between the U.S. and Iran. The delay was originally reported by Bloomberg News on May 5 .
Wynn CEO Craig Billings tackled the topic right off the top when he spoke to Wall Street analysts on the company’s first-quarter earnings call. During the first quarter of 2026, the company announced construction is ongoing and that it contributed $100.1 million of cash to the 40%-owned joint venture that is constructing in the United Arab Emirates.
“Construction has continued to progress, with over 22,000 workers on site,” Billings said. “The project team has been incredibly resilient. While we have faced logistical and shipping challenges, the deliveries have continued and we are re-routing shipments and sourcing alternative materials where needed. Based on conditions today, these challenges are manageable and we are realistic the picture could shift as the situation evolves. We do expect a modest delay in our opening timeline and expect we will quantify that in the coming months. That said, the project continues to move forward every day.
“Looking ahead, the UAE has world-class tourism structure, unrivaled airport capacity, and a strong policy framework,” Billings said. “As the region stabilizes, we expect the country will find smart ways to accelerate tourism and over the longer term will continue to be one of the most attractive destinations in the world for high net-worth residents and visitors.”
Billings said the opening will be decided by stability in the region and they “are making do just fine and will carry on.” He added the Emiratis did an “incredible job of defending the country,” and the team is back on both the design and development side and on the operational side working the building.
“Logistics is the only challenge and it’s not tragic,” Billings said. “Supply teams have this amazing ability to become flexible and find additional routes to market.”
Billings said the UAE has a track record of navigating multiple conflicts over the past two decades and has come out stronger, including as a prime spot for tourism.
“The UAE’s response to this has reinforced their credibility on the security front,” Billings said. “Their defense infrastructure performed exceptionally well and the international community, I hope, took notice of that. I am not going to sit here and tell you there are no risks. There are logistical challenges today and depending on how this situation evolves, there could be more. When we underwrote this project, we didn’t underwrite a region with zero geopolitical risk. We underwrote a country with a demonstrated ability to manage through it and emerge in a better competitive position on the other side. The long-term tourism fundamentals of the UAE haven’t changed. Airport capacity, visa framework, and quality of life are durable assets. We think Wynn Al Marjan is positioned to be a meaningful beneficiary of and contributor to (the country’s high trajectory). Our position hasn’t changed. How that translated into EBITDA estimates it’s far too early to tell. We remain as convicted in the project as we were before it began.”
