Wynn Resorts exceeded revenue expectations for the fourth quarter, although its overall growth remained steady as it concentrates on the Wynn Al Marjan project in the UAE. In the earnings call on February 13, Wynn Resorts announced year-over-year revenue increases at Wynn Palace and its Las Vegas locations, while reporting a drop in revenue at Encore Boston Harbor and Wynn Macau. CEO Craig Billings stressed the importance of the Wynn Al Marjan project to the company’s future plans. Billings remarked that Wynn intends to keep repurchasing shares until the market valuation accurately represents the project’s potential, emphasizing the solid return profile expected from these buybacks. The Wynn Al Marjan project is still on track for its opening in March 2027, with CEO Craig Billings reiterating its potential in what he anticipates to be a market worth $3 billion to $5 billion. The project has advanced considerably, with the hotel tower now at the 35th floor and 4.6 million square feet of concrete and steel completed. Wynn maintains that this project is crucial for its future expansion in the UAE.
