Inside Wynn Resorts' $3.9 Billion Gamble On The UAE [Forbes]
Wynn Resorts, Limited (WYNN)
Last wynn resorts, limited earnings: 2/6 04:03 pm
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Source: Forbes
Here's how the U.S. casino giant made a high-stakes bet on its future—and left Abu Dhabi, Dubai and other casino operators in the dust. By Suzanne Rowan Kelleher , Forbes Staff W ynn Resorts CEO Craig Billings raised eyebrows a year ago when he told investors that the United Arab Emirates was the “the most exciting new market opening in decades.” Outside of Egypt and Lebanon, casinos are practically nonexistent in the Middle East, since majority Muslim countries typically ban gambling. Even more intriguing: At the time Billings was enthusing about the UAE's gaming future, the kingdom had exactly zero casinos. It didn't even have a gaming authority. But by then Wynn had already rolled the dice on the UAE. In 2022, the company announced an ambitious new project—a $3.9 billion luxury “integrated resort” set on a man-made barrier islet in the emirate of Ras Al Khaimah, also known as RAK. The plans called for a glittering hotel tower with 1,500 high-end rooms and suites, as wel
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WYNN
News
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WYNN
Earnings
- 11/4/24 - Miss
WYNN
Sec Filings
- 11/13/24 - Form SC
- 11/12/24 - Form 4
- 11/4/24 - Form 10-Q
- WYNN's page on the SEC website