CBRE: Opening of UAE resort Wynn Al Marjan Island to significantly improve Wynn Resorts finances, paving the way for ratings upgrade

The scheduled opening of US$5.7 billion UAE integrated resort Wynn Al Marjan Island in September 2027 should significantly strengthen the financial position of Wynn Resorts, potentially opening the door for credit rating upgrades, according to CBRE Credit Research. In a Monday note, CBRE analysts Colin Mansfield and Connor Parks said the Wynn Al Marjan Island project – of which Wynn holds a 40% equity interest – would have a “large de-leveraging effect” on the company’s financial metrics, with its lease-adjusted leverage expected to fall to around 5.0x in 2027 once the IR is operational and generating cash flow.