Wynn Resorts surpassed fourth-quarter revenue estimates but reported flat overall growth as the company remains focused on its Wynn Al Marjan project in the United Arab Emirates (UAE).
During its fourth-quarter earnings call on February 13, Wynn Resorts reported year-on-year revenue growth at Wynn Palace and its Las Vegas properties, while revenue declined at Encore Boston Harbor and Wynn Macau.
CEO Craig Billings emphasized the Wynn Al Marjan project in the UAE, highlighting its significance in the company’s long-term strategy. Billings stated that Wynn will continue buying back shares until the market valuation appropriately reflects the project’s potential, noting that the company sees a strong return profile on these purchases.
The Wynn Al Marjan project remains on schedule for its March 2027 opening, with CEO Craig Billings reaffirming its potential in what he expects to be a $3 billion–$5 billion market. The development has made significant progress, with the hotel tower reaching the 35th floor and 4.6 million square feet of concrete and steel already in place.
Wynn continues to position the project as a key driver of its future growth in the UAE.
