The joint ventures behind Wynn Al Marjan Island in Ras Al Khaimah, United Arab Emirates (UAE), have decided to build a new upscale hotel close to the gaming company's casino resort, according to Wynn Resorts (NASDAQ: WYNN).

Aman Group will oversee resort development at that location, which will be called Janu Al Marjan Island and situated on Wynn's land bank in the emirate. The Las Vegas-based casino operator has contributed a tiny sum of money to the project, and the property is set to open in 2028.

“Given the recent success of condo sales in the UAE in general and Ras Al Khaimah in particular, we anticipate our portion of the equity check for the project will be quite small, about $25 million to $50 million,” said CEO Craig Billings on Wynn’s third-quarter earnings conference call last week. “Beyond the standalone merits of the transaction, we also expect Janu’s high-quality customers will be additive to Wynn Al Marjan Island.”

With only a few levels remaining, the $5.1 billion Wynn Al Marjan Island is expected to open in early 2027.

Details of Janu Al Marjan Island

Billings brought up Wynn's other UAE property holdings during the company's second-quarter results conference call, pointing out that plans for that land might be disclosed in the next year.

Given the property's high worth and proximity to some of the world's most active real estate markets, Janu Al Marjan Island offers the joint venture partners a chance to realize some of the land's potential.

“The hotel will feature 132 rooms with stunning views of the Arabian Gulf. Consistent with the Janu experience, the hotel will offer a Janu Wellness center including a yoga studio, gym, banya, and hammam,” according to a statement. “A Mixology Bar, two distinct restaurants, a vibrant nightlife venue, and a dedicated Kids’ Club will be part of the guest experience. Janu’s private beach will provide residents and guests seamless access to the water alongside a Beach Club and pool.”

There will also be a limited number of freestanding villas and Janu homes with one to five bedrooms on Janu Al Marjan Island.

Is Janu Al Marjan Island Going to Get a Casino?

It seems that Janu Al Marjan Island will be born as a nongaming venue, despite reports that Wynn may eventually obtain a second UAE casino license.

Wynn doesn't need to apply for another casino permit because Wynn Al Marjan Island will have a multiyear monopoly when it opens in 2027, and UAE gaming regulators are taking a practical approach to granting further casino permits. Additionally, the casino resort may use Janu as a feeder property.

“Beyond the standalone merits of the transaction, we also expect Janu’s high-quality customers will be additive to Wynn Al Marjan Island,” said Billings on the call. “With the Marjan land bank, we have significant additional long-term development opportunities in the UAE.”