TLDR CBRE expects Wynn Resorts to receive about $355 million in annual cash flow from Wynn Al Marjan Island once the resort stabilizes in 2031. The projection reflects a 22% unlevered annual return on Wynn’s equity investment in the joint venture. Wynn Resorts has invested about $1.06 billion so far and still owes an estimated $525 million to $650 million more. The project’s budget rose by $600 million, with Wynn covering $240 million of that increase based on its 40% ownership stake. The opening date has shifted to September 2027, about six months later than originally planned.
Wynn Resorts could see about $355 million in yearly free cash flow from its Wynn Al Marjan Island project once the resort stabilizes in 2031. That estimate comes from real estate firm CBRE, which has been tracking the property’s progress in the United Arab Emirates.
The cash flow figure reflects money that would reach Wynn Resorts through management fees and dividends. It does not represent the total cash the resort itself would generate on its own.
CBRE says this level of cash flow would equal a 22% unlevered annual return on Wynn’s equity investment in the project. That is a strong number for a hospitality investment of this size.
Wynn’s Financial Commitment
Wynn Resorts has already put about $1.06 billion into the joint venture behind the project. The company still needs to contribute an estimated $525 million to $650 million more.
Once fully funded, Wynn’s total investment will land between $1.59 billion and $1.71 billion. The project recently saw its budget rise by $600 million, and Wynn is responsible for 40% of that increase, or $240 million, matching its ownership stake.
CBRE said about half of the extra cost stems from disruption tied to the conflict involving Iran. The rest