Analysts are keeping an eye on how the war in Iran will affect construction of Wynn Al Marjan Island in the United Arab Emirates.
Kim Noland, director of high-yield research at New York-based Gimee Credit LLC, said the escalation of the war in Iran may have implications for the company’s project in the UAE that has topped out the hotel tower and is on schedule for a 2027 opening.
“The expansion in the UAE is important geographical diversification for Wynn in what is a rapidly growing tourist destination,” Noland said in a Monday report. “Tourist destinations and companies dependent on international tourism could all be hurt by a war in Iran that makes the consumer pull back on international travel plans.”
Wynn officials said in an email last week that there has been no effect on the $5.1 billion project that is 50 miles from Dubai International Airport and 70 miles from where some hotels were hit by retaliatory missiles fire by Iran.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X.
