UAE: Wynn Al Marjan Resort Set to Become a Must-Visit Destination

The company has increased its share repurchase program to $1 billion, focusing on enhancing shareholder value. Max Tappeiner, president of Wynn Resort Al Marjan, believes that the resort will establish Ras Al Khaimah as an important player in the gaming industry.

Recently, Wynn Resorts secured the first commercial gaming license in the UAE and reported revenues of $1.69 billion for Q3 2024, a slight increase from $1.67 billion in Q3 2023, along with a reduced net loss of $32.1 million. This quarter, the company invested an additional $18.2 million into the project, bringing the total investment to $532.6 million, with remaining equity needs estimated between $800 million and $875 million for the construction phase.

‍