Wynn Resorts obtains $2.4bn to finance construction of UAB resort
The landmark transaction represents the largest hospitality financing transaction in the history of the United Arab Emirates.
Key Points
- Project construction was said to be progressing well with 64% of the total structural concrete now completed
- Wynn Al Marjan Island is set to hold a topping off ceremony during December 2025 to celebrate the placement of the final steel structure
Representing the largest hospitality transaction in United Arab Emirates (UAB) history, Wynn Resorts has obtained a $2.4bn construction facility to finance the development of Wynn Al Marjan Island, which will become the UAB’s first-ever integrated resort.
The term of the loan is seven years at a competitive market interest rate and is structured as a delayed draw facility which is said to provide significant financial flexibility to the joint venture partners. The term loan facility was made available to Wynn Al Marjan Island FZ-LLC, which is a subsidiary of the 40%-owned joint venture.
Project construction was also said to be proceeding well with 64% of the structural concrete completed for the main resort tower and elevator cores. The construction team is currently completing one floor per day in hopes of working towards a topping-off ceremony during December 2025.
Good to know: Aristocrat Gaming celebrated the worldwide casino debut of its new House of the Dragon slot game, which launched on the Wynn Las Vegas casino floor as part of an event held by the property on January 30
The resort will offer 1,542 rooms and well-appointed suites, with 1,226 guest rooms in the tower structure having been completed up to this point. Wynn Resorts is developing the resort in partnership with Marjan and RAK Hospitality Holding, while Wynn Design and Development is overseeing all facets of the project’s design and construction.
Set to fully open to guests during 2027, the resort will be located 50 minutes from Dubai International Airport in the emirate of Ras Al Khaimah.
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