Wynn Resorts announced a second integrated resort on Al Marjan Island, Ras Al Khaimah, in partnership with Marjan LLC and managed by Aman Group. The new property, named Janu Al Marjan Island, will feature 132 rooms overlooking the Arabian Gulf, a wellness center, a mixology bar, two restaurants, a nightlife venue, a kids’ club, and a private beach with a beach club and pool. An adjacent residential tower will offer one‑ to five‑bedroom units and a limited collection of villas, creating a comprehensive luxury destination that complements the company’s first resort on the island, which is slated to open in early 2027.
Wynn’s Q3 2025 financial results, released the same week, showed revenue of $1.83 billion, an 8.3% year‑on‑year increase and a $60 million beat over the $1.77 billion consensus. Adjusted earnings per share fell to $0.86 from $1.15, a $0.29 miss, while adjusted EBITDA was $476.8 million versus the $540.4 million estimate. Net income turned positive at $88.3 million after a $32.1 million loss in Q3 2024, and operating margin rose to 16.9% from 7.9% a year earlier. The revenue beat was driven by strong demand in Macau and Las Vegas, where operating revenues grew 14.8% and 13.8 million respectively, offsetting higher one‑time repair and maintenance costs and an unfavorable hold that reduced EBITDA by just under $8 million.
Management highlighted the drivers behind the results. CEO Craig Billings said the quarter was marked by “impressive EBITDA growth in Macau and continued outperformance in Las Vegas,” noting that Macau’s mass‑table drop increased and that Las Vegas maintained market‑share gains. CFO Julie Cameron‑Doe explained that the unfavorable hold and one‑time repair expenses weighed on EBITDA, but that disciplined cost management helped preserve margins. Billings also emphasized the strategic importance of the Al Marjan Island development, stating that the project “will contribute significantly to future cash flow and reinforce Wynn’s market leadership in the UAE.”
The announcement of the Janu resort comes at a time when Wynn is capitalizing on its first gaming license in the UAE, granted in 2024, which gives it a monopoly on gaming in the country for several years. The joint venture with Aman Group adds a world‑class hospitality partner, positioning the island as a premier luxury destination and creating cross‑selling opportunities between the two resorts. The 132‑room property is expected to open in late 2028, complementing the 1,530‑room flagship that will open in early 2027 and expanding Wynn’s footprint in a rapidly growing high‑margin market.
Investors responded positively to the earnings beat and the expansion plans, reflecting confidence in Wynn’s ability to generate top‑line growth in its core markets while simultaneously investing in high‑margin assets that will drive long‑term cash flow.
The development of the second resort signals Wynn’s broader strategy to diversify beyond its U.S. and Macau operations, targeting the lucrative UAE luxury hospitality sector. By leveraging its first gaming license and partnering with a premium brand like Aman, Wynn is positioning itself to capture a significant share of the region’s growing demand for integrated gaming and luxury experiences, which should support the company’s long‑term growth trajectory.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.