Amid the ongoing Persian Gulf conflict, Wynn Resorts has resumed construction of its $5.1 billion integrated resort in the UAE, Wynn Marjan Island. The project was paused following the "Epic Rage" military operation launched by the US-led coalition against Iran on February 28, which saw Iran retaliate with missiles and drones against regional countries including the UAE. Despite the US State Department urging citizens to "evacuate immediately," Wynn announced the resumption of work on March 12. In plain terms, as soon as the gunfire ceased, the construction site continued, with over $900 million already invested, making it impossible to stop.
Progress of resumption: 71 floors topped out, a 7000-person worker community soon to open
Wynn states that after a brief pause, measures have been taken to ensure the safety of all staff on site, and construction has resumed. The latest construction update from January shows that the resort tower has reached 299 meters, with the 71-floor concrete structure completed. All 1,530 rooms, suites, and townhouses, as well as the luxurious seaside estates, have been completed. The 648-meter Wynn Bridge, connecting the resort to the E311 and E611 highways, is progressing, aimed at achieving "seamless connectivity between Dubai and the Northern Emirates," with completion expected this year if there are no further interruptions. A community named Oasis, capable of accommodating over 7,000 workers, is set to open this summer, described by operators as "one of the most comprehensive colleague living areas in the global hotel industry."
Cost pressure: Shipping surcharges up to $4000 per container
The crisis has impacted Dubai International Airport, about an hour's drive from the project, and disrupted the shipping lanes of the Strait of Hormuz, leading to supply delivery bottlenecks and rising costs. Freight suppliers are adding risk-based surcharges, with additional costs per container ranging from $2,000 to $4,000. To date, Wynn has invested over $914 million in the project. Analysts note that such substantial sunk costs anchor corporate decisions even in turbulent operational environments. Another Las Vegas-based gaming giant, MGM International, is also constructing a $1.2 billion non-gaming resort in Dubai's Jumeirah Beach, with its second gaming license application in the region still pending.
Confidence statement: Wynn firmly believes in UAE's security capabilities
Despite the US government's evacuation warning, Wynn maintains that the current war will not damage the UAE's reputation as a safe, stable, business-friendly environment and an international tourist destination. The company is in regular communication with the US and Ras Al Khaimah governments to make informed decisions and is confident in the UAE's extensive defensive posture and its ability to protect the safety of its people. Interested in how geopolitics affects the global gaming industry? PASA official website continues to track.
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