Wynn Resorts' first project in the UAE, Wynn Al Marjan Island, is counting down to its opening. CEO Craig Billings revealed in the latest earnings call that the project is a core part of the company's asset diversification strategy, with an expectation that over 55% of future revenue will come from non-US dollar markets. Simply put, Wynn is moving its eggs out of the American basket. Room presales are expected to start from the end of Q3 to the beginning of Q4 this year, and the enthusiasm of high-end players is already uncontrollable—over the past year, the team has continuously received inquiries from all over the Middle East, "When will you open?" Want to know the latest developments of the world's top integrated resorts? Follow the PASA official website for ongoing industry news.
First, Revenue Structure Reshaping: Non-US Dollar Market Share to Exceed 55%
Billings clearly stated in the earnings call that Wynn is building an asset portfolio centered around the US, China, and "certain parts of the Middle East." Projects independently developed and operated by Wynn in non-US dollar markets will contribute more than half of future revenues, with Wynn Al Marjan Island being the "vanguard" of this strategy.
He emphasized that the global wealth pattern is being reshaped, and the growth of high-net-worth individuals in emerging markets will directly translate into demand for the Wynn brand. The free cash flow improvement after the project's opening gives management confidence that "the best days are still ahead."
Second, Project Progress: Room Presales to Start from Late Q3 to Early Q4, Surrounding Cities to Serve as a "Reservoir" of Guests
Regarding the project timeline, Billings provided clear milestones:
Room Presales: To start from late Q3 to early Q4 of 2026
Initial Operation Not Relying on New Rooms: Existing capacity is sufficient to support basic operational goals
Transportation Linkage: Transform surrounding cities into regular visitor sources through a "strong transportation plan"
He noted that the local market's non-gaming demand is extremely strong, highly similar to Las Vegas. "The key is how to make good use of our room resources to achieve a healthy balance between gaming and non-gaming revenues."
Third, High-End Market Warm-Up: Continuous Proactive Inquiries, Steady Database Accumulation
Wynn began building a regional reception system more than a year ago, introducing several executives with local experience. Billings revealed:
High-End Players: Establish deep connections through one-on-one relationship marketing, "high-value players from various places keep actively inquiring about the opening date"
Mass Market: Focus on building a digital database to enhance brand awareness
"We are quite confident about the foot traffic on the opening day." Billings said. This situation of "firing up before opening" is the result of Wynn's years of cultivating the brand and channels.
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