We expect the project in the United Arab Emirates [UAE] to break ground sometime next week, with the opening targeted in 2027

Casino operator Wynn Resorts said in a note from JPMorgan Securities LLC on Tuesday.

The agency cited comments from Julie Cameron Doe, the company’s chief financial officer (CFO) based in the United States. Wynn Resorts is the parent company of Macau operator Wynn Macau Ltd.

The CFO gave a presentation at the JP Morgan Games, Accommodation, Restaurant and Leisure Management Access Forum in the United States. 온라인경마

Wynn Resorts’s participation in the Middle East project was announced in January 2022. – On the land of Ras Al Khaimah, part of the UAE (shown in the file photo). Las Al-Qaima has laws regulating casino gambling. The facility has been described as a total $2 billion venture, and Wynn Resorts is an equity partner and operator.

The plan will work with developer Marjan Properties and hotel and leisure operator RAK Hospitality Holding LLC. Both are companies based in ras al – kaima.

In February 2022, in Casino Group’s Q4 2021 earnings call, CEO Craig Billings said Wynn Resorts would sign a management contract to “sit at the top” of its business model.

“Win is a stock investor with a management contract,” JP Morgan analysts reiterated in a note on Tuesday.

In February this year, in response to Wynn Resorts’ request for the fourth quarter of 2022, Mr Billings told investment analysts that the company was “in the latter stages of the program” for the Ras al-Kaima complex. “I expect we’ll be driving stakes for the foundation of real estate by the middle of the year,” he added.

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