Wynn Resorts (NASDAQ: WYNN) CEO Craig Billings sees significant upside in the United Arab Emirates (UAE), where the company is making rapid progress on its Wynn Al Marjan Island casino resort.
Speaking on CNBC’s “Mad Money,” Billings told host Jim Cramer the UAE could eventually rival the Las Vegas Strip in gaming revenue — a bold projection for a market that only recently approved casino gaming.
“Several analysts have put market estimates in the $5 billion to $8 billion range,” Billings said. “For context, the Las Vegas Strip generates just over $6 billion. That represents a meaningful opportunity.”
Other analysts are more conservative, suggesting the UAE could generate $3 billion to $5 billion in annual gross gaming revenue (GGR) once additional integrated resorts come online. Even at that level, the market could challenge Singapore for the world’s third-largest gaming hub, behind Macau and the broader Las Vegas market.
Wynn Al Marjan Island Gaining Momentum
The $3.9 billion Wynn Al Marjan Island project, located in Ras Al Khaimah, has been under construction since last year and is slated to open in early 2027.
Billings said 42 of the resort’s 70 hotel floors are already complete, with crews finishing roughly one floor per week. Upon opening, the property will feature about 1,500 rooms, 25 dining venues, and a wide array of non-gaming attractions.
Recent speculation suggests the resort may include more gaming areas than initially planned. In addition to a main casino accessible to all guests, Wynn Al Marjan Island is expected to feature a sky casino on the 22nd floor designed for high-end players. A third gaming area appears unlikely.
Regardless of final gaming square footage, Wynn and its local partners are positioned to benefit from a multi-year monopoly. UAE regulators have indicated it could be several years before another casino license is approved.
Strategic Moves Support UAE Growth
In January, Wynn announced the acquisition of the Crown London casino from Crown Resorts. While modest in size, the deal is viewed as strategically important for the UAE project, as many Crown members are of Arab descent and London remains a top destination for Middle Eastern travelers.
Billings Outlines Broader Expansion Strategy
Billings also said Wynn is evaluating long-term options for its sizable Las Vegas land holdings, leaving open the possibility of another resort in its home market, though no plans are imminent.
“We’re simultaneously thinking about how best to deploy capital in Las Vegas, Thailand, and the UAE,” Billings said.
He described Thailand — where casino legislation continues to advance — as an “interesting” market, noting Wynn is still in the exploratory phase. The company is also partnering with Related Companies in pursuit of a downstate New York casino license.
Explore the best online betting site Singapore with Octabet betting news. Start winning today! Register now!
