UAE’s First Casino Could Exceed Wynn’s $1.66 Billion Annual Revenue Forecast

^{Wynn Al Marjan Island Casino Resort Project}

The UAE’s first casino resort, Wynn Al Marjan Island, could generate more gaming revenue than previously forecast. This is according to Inside Asian Gaming, citing research by investment firm Wolfe Research.

The $5.7 billion resort is under construction in the emirate of Ras Al Khaimah and is scheduled to open in September 2027. In December 2025, project operator Wynn Resorts estimated that the casino could generate up to $1.66 billion in annual gross gaming revenue (GGR)* under its most optimistic scenario.

However, Wolfe Research analysts believe the casino could exceed that figure.

To illustrate the potential, Wolfe Research analyst Peter Supino points to Singapore, where two major casinos have operated since 2010: Marina Bay Sands, owned by US-based Las Vegas Sands, and Resorts World Sentosa, operated by Genting Singapore.

Both casinos are part of large integrated resorts featuring hotels, restaurants, and entertainment facilities. Singapore has also limited competition by issuing just two casino licenses. This model allows operators to attract wealthy international visitors while facing limited competition.

Supino believes the UAE offers similar advantages.

The country is actively developing its luxury tourism sector, while its geographic location provides access to a vast pool of potential visitors. Approximately one-third of the world’s population lives within a four-hour flight of the UAE.

Furthermore, according to property consultancy Knight Frank, 43% of hotel rooms planned for development in the UAE by 2030 will fall into the luxury category. This highlights the country’s focus on affluent travelers — the same audience Wynn Al Marjan Island is designed to attract.

Wolfe Research analysts also believe a successful casino launch could significantly boost Wynn Resorts’ share price. They forecast that the company’s stock could rise by 60% by the end of 2027.

* GGR (gross gaming revenue) is the difference between the total amount wagered by players and the winnings paid out to them.