Wynn agreement allows for possible second UAE casino and IPO
Wynn Resorts’ agreement with RAK Hospitality Holding and Al Marjan Island LLC provides for a possible second integrated resort in the UAE and a potential IPO of its local holdings. Wynn has not announced formal plans for the unused land, and the agreement requires shareholder approval for a further casino in a Gulf Cooperation Council country.
The agreement sets out possible future casino development and a route to listing Wynn’s UAE holdings, subject to conditions.