Wolfe Research Positions Wynn Al Marjan Island to Exceed December 2025 GGR Targets on Singapore Benchmark

Wolfe Research analyst Peter Supino identifies Wynn Resorts’ UAE project as a longer-term positive for the NASDAQ: WYNN share price. The assessment arrives as the war in Iran weighs on the stock. The Al Marjan Island casino is scheduled to open in September 2027.

Supino notes that Wynn will introduce its luxury brand as the first integrated resort-casino in the Middle East. The venue is widely expected to hold a multi-year monopoly because regulators are not rushing additional approvals. Supino compared the opportunity to Singapore, a wealthy limited-license market that has drawn similar commentary before.

Singapore Benchmark Signals Beat Potential

Singapore operates two integrated resorts: Marina Bay Sands and Resorts World Sentosa. Both rank among the most profitable gaming venues worldwide. The UAE is forecast to support four or five casino resorts at most. This parallel leads Supino to conclude that Wynn Al Marjan Island could exceed the GGR targets Wynn laid out.

Demand Drivers and Operator Projections

The UAE market could reach $3 billion to $5 billion in annual gross gaming revenue. That would rank it fourth globally behind Macau, Las Vegas and Singapore. Wynn projects its property to deliver up to $1.66 billion in yearly GGR at full ramp, with adjusted EBITDA between $390 million and $570 million.

Supino cited Knight Frank data showing 43 percent of the UAE’s hotel room supply through 2030 classified as luxury. One-third of the global population lives within a four-hour flight. As reported by Casino.org, these conditions point to pent-up demand for regulated premium gaming.

The combination of brand positioning, limited competition and regional demographics frames the project as a potential estimate-beater once operational.

Reporting: Casino.org News

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