The Al-Marjan island which will be hosting the upcoming casino resort which may not be the only property in the vicinity, as Wynn seeks to evoke a Las Vegas vibe to the future venture.
Wynn Resorts Confident in the Success of “Vegas Strip” in UAE
According to company filings, Wynn Resorts has already registered “Arabian Strip” and “Marjan Strip” as trademarks, meaning that the company is not only looking to establish a resort but ensure that it benefits from its first-mover advantage.
The terms are a clear allusion to the Las Vegas Strip, which is the term usually used to describe the place in Las Vegas where the casino resorts are located. They are actually not in the city itself.
Wynn Resorts is building its project across an artificial island and the company will be spending $2 billion to bring it to bear. Wynn is teaming up with RAK Hospitality Holding LLC, a local developer, which will see through the construction work of the upcoming venue.
Wynn CEO Craig Billings has already confirmed that the company is forging ahead with plans to introduce gambling in the United Arab Emirates, specifically across its casino resort. New renderings and plans will be revealed publicly over the coming months, Billings confirmed.
The project is expected to arrive in 2026, with the first sod expected to take place later in 2023, and the finished property to materialize itself by the end of 2026. The area will have a range of amenities, including dining venues, meeting spaces, event halls, accommodations and more.
Some Reason for Skepticism After All
While introducing a Vegas-style gambling in the UAE would have a transformative impact on the region’s reputation for opposing gambling, Wynn’s enthusiasm alone will not suffice. The decision would ultimately lie with the UAE and whether the country feels like greenlighting casino gambling on its territory.
Just because the company wishes to use the same term to describe its project, though, doesn’t mean it would be quite the same experience as well. The Las Vegas Strip presently plays host to more than 30 casinos whereas the Marjan Strip is only going to host Wynn’s casino for now.
Wynn though is determined to wow local and international audiences. The company has contracted the same architect studio behind the Palazzo Las Vegas, Venetian Macau, and the Atlantis Paradise Island, HKS Architects. Meanwhile, rivals Caesars and MGM Resorts are somewhat present in the region.
Caesars runs a luxury hotel in Dubai, and MGM Resorts International is building a tourism-focused property that has made no mentions of gambling just yet. The investment in Wynn’s property is solid, with the company expecting 20% ROI. More details will be forthcoming.