Wynn Resorts (WYNN) Is Down 5.6% After Reaffirming UAE Resort Plan As First Licensed Casino

• In late November 2025, Wynn Resorts held a special call outlining progress on Wynn Al Marjan Island, its 40%-owned integrated resort under construction in the UAE, reaffirming a US$5.10 billion budget and a planned opening in early 2027 as the country’s first licensed commercial gaming property.
• Analysts now increasingly view Wynn Al Marjan Island as a potentially transformative first-mover in a new Middle Eastern gaming market, underpinned by government support, favorable taxation and room for future expansion.
• We’ll now explore how this first-mover UAE resort, with its potential long-term earnings impact, reshapes Wynn Resorts’ existing investment narrative.

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Wynn Resorts Investment Narrative Recap

To own Wynn Resorts, you need to believe its high-end Macau and Las Vegas resorts can keep generating healthy cash flow while the company successfully layers on a new earnings engine in the UAE. The latest update on Wynn Al Marjan Island reinforces that the near term catalyst remains clear visibility on construction progress and licensing in Ras Al Khaimah, while the biggest current risk is still Wynn’s heavy exposure to Macau’s regulatory and geopolitical backdrop, which this news does not directly reduce.

The recent BofA-supported analyst event around Wynn Al Marjan Island, confirming the US$5.10 billion budget and Q1 2027 opening timeline, has quickly become the focal point for many updated research views on the stock. Several firms have raised price targets after touring the UAE site, highlighting Wynn’s first-mover status in a new regulated gaming market as a potential step-change catalyst for earnings and a partial offset to future competition and policy risk in its existing regions.

Yet while expectations for Wynn Al Marjan are rising, investors should also be aware of the financial risk if this large capital program underdelivers or market conditions soften...

Read the full narrative on Wynn Resorts (it's free!)

Wynn Resorts' narrative projects $8.0 billion revenue and $624.0 million earnings by 2028. This requires 4.6% yearly revenue growth and about a $240 million earnings increase from $383.9 million today.

Uncover how Wynn Resorts' forecasts yield a $141.17 fair value, a 14% upside to its current price.

Exploring Other Perspectives

Nine members of the Simply Wall St Community currently value Wynn Resorts anywhere between about US$10 and US$141 per share, with estimates spread across the entire range. When you combine this dispersion with the market’s focus on Wynn Al Marjan Island as a single major future catalyst, it underlines how differently investors can weigh project execution risk and why it can be useful to compare several independent views before forming your own.

Explore 9 other fair value estimates on Wynn Resorts - why the stock might be worth less than half the current price!

Build Your Own Wynn Resorts Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Wynn Resorts research is our analysis highlighting 1 key reward and 3 important warning signs that could impact your investment decision.
• Our free Wynn Resorts research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Wynn Resorts' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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