Wynn Al Marjan Island: opening moves to September 2027 as budget rises to about $5.7bn
Wynn Al Marjan Island now opens in September 2027 instead of Q1, and the budget is up $600m to about $5.7bn. Licence granted by the GCGRA in October 2024, $2.4bn construction loan closed in February 2025. What the delay means for Al Marjan investors.
The UAE's first casino resort will open later than planned. Reporting second-quarter results in August 2026, Wynn Resorts moved the opening of Wynn Al Marjan Island in Ras Al Khaimah from the first quarter of 2027 to September 2027 and raised the project budget by $600m to roughly $5.7bn. For Al Marjan Island, whose property market has been priced on the casino for three years, it is the news of the year.
Licence and financing
On 4 October 2024 the federal regulator, the GCGRA, issued the project company the country's first commercial gaming facility operator licence. On 6 February 2025 the project closed a $2.4bn seven-year delayed-draw construction facility, coordinated by Abu Dhabi Commercial Bank and Deutsche Bank with First Abu Dhabi Bank, Emirates NBD Capital and RAKBANK in the syndicate. By the end of Q2 2026, $1.4bn had been drawn. Wynn owns 40%, with Ras Al Khaimah partners including the island's master developer Marjan holding the rest; Wynn's own cash contributions have passed $1bn.
How budget and timing moved
| Stage | Budget | Opening |
|---|---|---|
| Early estimates | about $3.9bn | 2027 |
| Revised scope | about $5.1bn | Q1 2027 |
| Q2 2026 results | about $5.7bn | September 2027 |
Wynn attributed roughly half of the latest increase to the regional conflict — supply-chain disruption, higher material, freight and insurance costs, and restrictions on moving staff — and the rest to normal remeasurement. Work continues: interior fit-out of hotel rooms has started, MEP and finishing trades are mobilising and pre-opening hiring is under way. The resort will have 1,530 keys: 1,217 rooms and suites in the main hotel and 313 in the ultra-luxury Enclave, including royal apartments, garden townhomes and marina estates.
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What the delay means for investors
More expensive, not stopped. A cancelled casino would have removed the island's core thesis. A 12% overrun and a six-month slip, with nearly 60% of the loan drawn, is typical for a megaproject in a region that saw conflict in 2026.
Six months matters for yield. If a rental model assumed casino-driven demand from spring 2027, rebase it to autumn — especially for units handing over in 2026–2027, which may sit through months without the visitors they were bought for.
Competition for the guest is rising. Branded hotels and residences are going up across the island, from Fairmont Residences Al Marjan Island to Address Residences. Brand, beach and management will separate winners from units that are merely "near the casino". The regulatory background is in UAE gaming industry: the first casino opens on Al Marjan Island.
Island projects and the emirate's plans to 2030 are on our Ras Al Khaimah page.
Video on this topic
The same subject on the English channel — each clip has a written version of its own.
13:37Al Marjan Island plots: what the branded launches in Ras Al Khaimah are actually built on10 December 2023
19:45Oceano on Al Marjan Island: the Luxe Developers project and the island being built around it14 August 2026
15:43Nobu in Ras Al Khaimah and Abu Dhabi: why the RAK one is the more interesting asset10 December 2023
37:55A casino in Dubai? The Island by Wasl, with Bellagio, MGM and Aria24 December 2023
In the news
Other write-ups on the site about the same thing.
UAE gaming industry: the first casino opens on Al Marjan Island in 2027
The UAE has built a regulatory framework for commercial gaming: the federal GCGRA regulator, three licence categories and the first legal betting campaign. Wynn Resorts is building a $4bn resort on Al Marjan Island in Ras Al Khaimah.
Ras Al Khaimah to 2030: 3.5m visitors, 16,000 hotel keys and a new airport terminal
Ras Al Khaimah targets 3.5m visitors a year by 2030 (1.35m in 2025), wants to grow hotel stock from 8,700 to about 16,000 keys with 80% premium, and is building a terminal for 3m passengers by 2028. What it means for property buyers.
Al Marjan Island branded residences: W, Jacob & Co and Sheraton next to Wynn, delivering 2027–2028
Wynn Al Marjan opens in September 2027, and branded homes around it deliver in the same window: W Residences from AED 1m, Jacob & Co Residences (223 units, AED 300m sold in 12 hours), 141 Sheraton residences and Park Beach Residences 2. Where the risk sits.
Aldar in Ras Al Khaimah: Nikki Beach Residences and Rosso Bay on Al Marjan, sold out and due in 2028
Aldar entered Ras Al Khaimah with two Al Marjan Island schemes: Nikki Beach Residences (November 2023, 1–4 bed apartments plus villas) and Rosso Bay Residences (July 2024, from about AED 1.5m). Both are sold out by the developer; portals show handover in Q4 2028.
Ras Al Khaimah branded residences: Nobu, Moonstone by Missoni and the Ritz-Carlton villas, checked in 2026
Three branded RAK launches of 2023–24: Nobu Hotel & Residences on Al Marjan (nearly 300 homes, handover now Q1 2028 rather than 2026), Moonstone with Missoni interiors (from about AED 1.29m, due Q4 2026) and Ritz-Carlton villas in Al Wadi (from about AED 16m, sold out, due Q1 2027).
Ras Al Khaimah villas: Four Seasons and Armani Beach Residences at Mina by RAK Properties
RAK Properties is building two ultra-prime schemes at Mina: Four Seasons (about 150 keys and 130 private residences, villas of 4–6 beds) and the world’s first Armani villas on Raha Island. In 2026 the Four Seasons masterplan was finalised and Armani beach works began. What is known, and what is not.