Wynn Resorts has secured a record $2.4 billion construction loan to develop Wynn Al Marjan Island in Ras Al Khaimah — set to become the UAE's first casino resort and the Arab world's first integrated gaming destination. The financing package is the largest hospitality funding deal ever completed within UAE borders.
Record-Breaking $2.4 Billion Financing Deal
The seven-year delayed-draw term loan was extended to Wynn Al Marjan Island FZ-LLC and is structured to provide significant financial flexibility to the joint venture partners. Wynn Resorts holds a 40% ownership stake in the project.
Major international banks joined the syndicate as lead lenders: Abu Dhabi Commercial Bank (ADCB), First Abu Dhabi Bank (FAB), Deutsche Bank, Emirates NBD, and Sumitomo Mitsui Banking Corporation (SMBC). The total project cost is estimated at $5.1 billion.
Rapid Construction Progress at Al Marjan Island
The hotel tower is rising quickly on Al Marjan Island, roughly 50 minutes from Dubai International Airport. Key construction milestones as of the financing announcement:
- 64% of structural concrete work complete, reaching the 34th floor - Elevator cores already extended to the 36th story - The project is adding one new floor every week - Tower topping-off targeted by end of 2025
Additional progress figures: 80% of the 1,226 guest rooms are structurally complete, 2,840 of 13,734 facade panels have been installed, 70% of low-rise structures are finished, and interior fit-out is already underway in 1,121 rooms.
World-Class Amenities Planned for UAE's First Casino
Wynn Al Marjan Island will deliver a full integrated resort experience. The property will include 22 dining venues, lounges, bars, a nightclub, and a beach club. Guests can also expect:
- A sprawling 39,000 sq. ft. poolscape - A 145,000 sq. ft. events facility with outdoor terrace space - A signature Wynn Spa - A luxury shopping promenade - A modern theater for live entertainment
The resort is targeting an opening in early 2027, positioning Ras Al Khaimah as a new global luxury and entertainment hub competing for high-end visitors across the Middle East and beyond.
