According to a report by Arabian Gulf Business Insight (AGBI), the agreement was signed on June 21, 2024, between Wynn Resorts and its UAE partners, RAK Hospitality Holding and Al Marjan Island LLC. Wynn Resorts—parent company of Macau casino operator Wynn Macau—holds a 40% stake in the joint venture developing the US$5.1 billion Wynn Al Marjan Island, which will feature the UAE’s first licensed casino and is set to open in 2027.

The agreement highlights a “Second Integrated Resort Plot” covering 593,870 square feet of existing land, with 892,306 additional square feet to be reclaimed. If a casino is built on this second plot, Wynn Resorts or its affiliates would act as the exclusive operator, according to AGBI.

Michael Weaver, Wynn Resorts’ chief communications officer, stated that no decisions regarding the second plot will be made until after the opening of Wynn Al Marjan Island in 2027. The agreement also outlines the possibility of a future initial public offering (IPO), which could involve restructuring the joint venture as a public joint-stock company or merging with other infrastructure ventures.

Wynn Al Marjan Island is planned to include a 225,000-square-foot casino, over 1,500 hotel rooms, multiple dining venues, luxury retail space, a theatre, and a large events centre.

In addition to the second resort plot, the agreement references a “Janu Plot,” potentially linked to Aman Resorts’ Janu brand, a “Luxury Hotel and Apartments Plot,” and a broader “Land Bank” for future developments. Wynn Resorts previously acquired 155 acres on Al Marjan Island Three, which CEO Craig Billings described as a strategic land bank for long-term growth opportunities.

Billings emphasized during the company’s Q2 2025 earnings call that the UAE project remains Wynn Resorts’ top global priority and hinted at future announcements regarding the use of portions of its land bank.