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Angel Hristov March 22, 2023 3 min read
Wynn Resorts Designates ALEC as Wynn Marjan Contractor
The casino and hospitality juggernaut is hellbent on recreating the Las Vegas Strip in the United Arab Emirates
Wynn Resorts has taken another step toward its goal to recreate the Las Vegas Strip in the United Arab Emirates. The global gambling operator has announced that the main contractor for the construction of the unprecedented Marjan Island property is ALEC Engineering and Contracting.
The contractor, a part of the Investment Corporation of Dubai, was provided with the main contract to turn Wynn Resorts’ vision into a reality. In the meantime, Bauer International will take the piling and enabling works.
Wynn Resorts’ UAE property will be a first-of-its-kind venue in the United Arab Emirates – a region known for its disfavor of gambling. Ras Al Khaimah, one of the emirates comprising the UAE, is currently working on its gambling laws, which will allow Wynn Resorts’ Wynn Marjan to operate.
The emirate will base its rules on tested regulatory frameworks such as the ones in the United States and Singapore.
Wynn Is Optimistic about Its New Property
Wynn Resorts plans to capitalize on being a pioneer in the UAE and recreate the famous Las Vegas Strip in the Middle Eastern country. The company is bullish on this goal as attested by its recent actions, which saw it register “Arabian Strip” and “Marjan Strip” as trademarks.
RAK Hospitality Holding is one of Wynn’s main allies in the region. The local developer will see through the construction work of Wynn Marjan, helping the global operator bring Vegas-styled casino experiences to the UAE.
The UAE, however, is yet to completely overturn its harsh stance on gambling. Establishing the Marjan Stip as Wynn envisions it might prove to be difficult if the UAE refuses to allow gambling.
Despite that, Wynn is determined to finish this project and turn it into a signature property that will amaze locals and tourists alike.
Wynn Resorts Continues to Expand Its International Business
Wynn Resorts remains committed to expanding internationally and conquering new markets with its premium casino resorts and exciting gambling offerings. Despite the setbacks in Macau, the company remained committed to supporting its business in the region throughout the pandemic and even provided its local subsidiary with a $500M loan during the worst months for the local gambling industry.
Wynn Resorts finished 2022 with strong results, which it published last month. The company’s revenues remained more or less the same but it experienced strong EBITDA growth and managed to cut its losses drastically.
Last year, Wynn finalized the sale of Encore Boston Harbor, an integrated resort in Massachusetts.
Angel has a passion for all forms of writing, be it fiction or nonfiction. His curious nature gives him an ace up his sleeve when researching a new topic. Angel’s thirst for knowledge, paired with adaptability, always helps him find his way around.
Casino March 22, 2023