Wynn sets total budget for UAE project at US$5.1 billion, expects annual GGR of up to US$1.7 billion
Wynn Resorts revealed via an investor presentation on Tuesday that the total estimated budget for its integrated resort development in Ras Al Khaimah, United Arab Emirates was US$5.1 billion, of which the company’s equity contribution would be around US$1.1 billion.
The budget includes land, fees and capitalized interest – around US$4.55 billion would come from direct development costs – and would be largely funded by US$2.4 billion of debt, with Wynn adding that debt raising is already oversubscribed amid “strong demand from local and international investors”.
Wynn’s own contribution currently sits at around US$200 million with another US$900 million still to come.
