A US$4 billion integrated resort being developed by Wynn Resorts on Al Marjan Island in the United Arab Emirates is seen generating gross gaming revenues of US$1.38 billion annually, with net revenues reaching US$1.8 billion, according to a new report by CBRE Institutional Research.

The report, titled “United Arab Emirates: The next gaming frontier”, also outlines CBRE’s expectation that the property in Ras Al Khaimah should ramp quickly given the current lack of gaming supply in the region.

According to analysts John DeCree, Colin Mansfield, Connor Parks and Max Marsh, Wynn Resorts can expect to generated free cash flow of around US$356 million by 2030, calculated on its 40% equity contribution and management contract. Property EBITDARM (Earnings Before Interest, Taxes, Depreciation, Amortization, Rent, and Management Fees) is estimated at US$921 million annually.

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