Wynn Palace reveals $950M Macau luxury tower as Al Marjan faces delays
Wynn Resorts has announced plans to build a new US$900 million to US$950 million luxury hotel tower at Wynn Palace in Macau, marking one of the company’s biggest recent investments in non-gaming expansion as premium tourism demand in the city continues to grow.
Wynn Resorts announced the new project, called “The Enclave at Wynn Palace”, during its first-quarter 2026 earnings call. The new development will add a 432-suite luxury hotel tower next to the existing Wynn Palace resort in Macau’s Cotai district.
The announcement comes as Wynn Resorts also confirmed that ongoing conflict in the Middle East is expected to cause a “modest delay” to the opening timeline of its Wynn Al Marjan Island integrated resort project in the United Arab Emirates (UAE).
Speaking during the earnings call, Wynn Resorts chief executive Craig Billings said the Macau expansion reflects strong demand for luxury accommodation at Wynn Palace, which is operating close to full occupancy.
“This is a US$900-million to US$950-million addition that will increase the existing Wynn Palace room count by 25 per cent, and our suite count by 50 per cent, driving more foot traffic into gaming and our existing food and beverage outlets,” Billings said.
According to the company’s earnings presentation, construction on the new tower is expected to begin in the second half of 2026 and take approximately two-and-a-half years to complete.
Focus on non-gaming growth in Macau
Unlike many earlier expansion projects in Macau that centred heavily on gaming space, Wynn confirmed that The Enclave at Wynn Palace will not include casino facilities.
Billings said the property would have “very, very modest food and beverage” offerings because it will connect directly to Wynn Palace’s east entrance and rely on the existing resort’s amenities.
He said the new tower is aimed at capturing luxury demand that Wynn Palace is currently unable to accommodate.
“When you’re at 99 per cent occupancy, you’re not making a speculative bet by adding rooms; you’re clearly capturing demand that already exists and that you’re currently turning away,” Billings said.
The executive added that the new suites would be slightly larger than the standard room product currently available at Wynn Palace.
“The way I would describe it in terms of aesthetic finish is that it is complementary to our existing product,” he said. “It’s not the same, nor is it a radical departure that would feel as though it was off-brand.”
Wynn management also noted during the call that government approvals for the project were beginning to progress.
“Final government approvals are starting to come together,” management stated during the earnings discussion.
The Q1 2026 earnings presentation described The Enclave as part of Wynn’s broader concession-related investment programme in Macau, alongside the Wynn Palace Event and Entertainment Center, a resident theatre show project and a refresh of Wynn Macau hotel rooms.
The company expects Macau-related project capital expenditure to reach between $400 million and $450 million in 2026, increasing further in 2027.
Macau operations remain strong
The expansion announcement came alongside strong Macau operational figures presented in Wynn Resorts’ quarterly report.
In its Q1 2026 earnings presentation, Wynn Resorts said combined adjusted property EBITDAR for Wynn Macau and Wynn Palace increased to $279 million, up from $252 million a year earlier. Mass table drop in Macau rose 19.3 per cent year-on-year to $3.875 billion, while combined table games, slots and poker win increased to $1.02 billion.
Wynn Resorts said recent additions at Wynn Palace, including the Gourmet Pavilion and the expanded Chairman’s Club gaming area, formed part of its efforts to enhance its luxury offering in Macau. During the earnings call, Billings said the early response to the Chairman’s Club expansion had been positive.
“The early signs are actually quite good,” he said, while adding that it would take time before the expansion generated meaningful incremental market share.
Wynn management also commented positively on trading during the recent Labour Day holiday period in China.
“It was good,” Billings said. “Casino drop was up year on year, and we felt good about the holiday.”
The company said it continued to maintain healthy market share in Macau despite increasing competition and new offerings from rival operators.
“I don’t think we’ve seen it necessarily change substantially. It’s day-to-day combat,” management said when discussing Macau’s promotional environment.
UAE project faces delays amid regional conflict
While Wynn Resorts continued to push ahead with its Macau expansion, the company said ongoing tensions in the Middle East were creating challenges for the Wynn Al Marjan Island project in Ras Al Khaimah, UAE.
Billings said the company now expected a “modest delay” to the opening of the US$5.1 billion project, which had originally been scheduled to open in spring 2027.
“I expect that we will quantify that in the coming months,” he said.
Despite the disruption, Wynn Resorts stressed that construction work remains active at the site.
“We are forging ahead with the project every day and we look forward to opening in 2027,” Billings said during the call.
The executive said more than 22,000 workers remain on site, while construction and interior work continue despite logistical challenges.
Wynn’s earnings presentation stated that the hotel tower at Wynn Al Marjan Island had already topped out in the fourth quarter of 2025 and that extensive interior works are underway.
The presentation also confirmed that the project experienced “conflict-induced delays in materials”.
“While we have faced logistical and shipping challenges in the region, deliveries have largely continued and we are rerouting shipments and sourcing alternative materials where needed based on conditions,” Billings said.
“Today, these challenges are manageable, though we are realistic that the picture could shift as the situation evolves.”
Wynn Resorts currently holds a 40 per cent equity stake in the UAE development, which the company continues to describe as one of the most important new integrated resort opportunities globally.
In the earnings presentation, Wynn called the UAE “one of the most exciting new markets for integrated resort development in decades” and said the project would help extend the company’s global luxury resort footprint.
The company also said Wynn Al Marjan Island is expected to contribute around $345 million in EBITDAR through management fees and Wynn’s ownership share once operations stabilise.
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