Ras Al Khaimah is preparing to rewrite the rules of the Emirati real estate market with the opening of the country’s first legal casino. The Wynn Al Marjan Island Resort, scheduled to open in the first quarter of 2027, is not just a hotel complex: it represents the most powerful catalyst the regional real estate sector has seen in decades. The project, valued at 5.1 billion dollars, has transformed Al Marjan Island from just another artificial island into the Gulf’s top investment destination.
The scale of the phenomenon goes far beyond entertainment. Wynn Marjan has triggered a domino effect in off-plan transactions, with exponential increases in sales and secondary market prices soaring. Proximity to the UAE’s only legal casino is generating what analysts call a “location premium”: the 15–25% markup that buyers are willing to pay to be just minutes’ walk from an amenity with no competition anywhere else in the country.
The monopoly that is redefining the market
Wynn Marjan holds an exclusive 15-year licence to operate the only casino in Ras Al Khaimah. This legal exclusivity turns every square metre near the complex into a strategic asset without precedent. Wynn Resorts, globally renowned for its properties in Las Vegas and Macau, will develop its first beachfront resort here, with 1,542 rooms, 22 fine-dining restaurants, and a 20,900-square-metre casino.
Construction is progressing at a rapid pace. The main tower already exceeds the 26th floor, with more than 55% of the structural concrete completed. The project will reach its top out in December 2025, then move into the interior fit-out phase. By 2027, this complex will be welcoming tourists from around the world seeking the unique experience of legal gambling in the Middle East, something historically prohibited in the region under Islamic regulations.
Brutal appreciation of the residential market
Properties on Al Marjan Island have undergone the most aggressive transformation in the Emirati market in 2025. Landmark projects such as Aston Martin Residences and Beach Vista have reshaped the skyline of this strategic bay in a matter of months. Construction of the casino has elevated Marjan’s status from a simple artificial island to a priority investment destination for international capital, especially from Asia.
Chinese investors increased their activity in the Emirati real estate market by 130%, with 78% of these transactions carried out in cash. This flow of foreign capital responds directly to the Wynn’s announcement, anticipating the explosive demand for accommodation and second homes once the resort is operational. Properties with direct views of the complex or located within a 2-kilometre radius are recording location premiums above the historical average.
The tourism multiplier effect
The Ras Al Khaimah Tourism Authority plans to increase annual visitor numbers from 1.3 million to 3.5 million by 2030. This 169% growth is driven exclusively by the opening of the Wynn and associated projects. The complex will feature 22 private beachfront villas, 15,000 square metres of luxury retail, a five-star spa, a theatre, and an exclusive beach club.
The surrounding tourism ecosystem is expanding aggressively. Brands such as JW Marriott, Nobu, and Fairmont are planning hotels on Al Marjan Island, anticipating the tsunami of visitors. However, none of them will operate a casino: Wynn retains that absolute monopoly. This competitive advantage ensures that any tourist seeking gambling will either stay at Wynn or in nearby residential properties to maximise their experience.
The challenge from Abu Dhabi and Dubai
The authorisation of the casino in Ras Al Khaimah is generating competitive tensions with the larger emirates. MGM Resorts has requested a casino licence in Abu Dhabi, while Dubai is closely watching the Wynn’s economic impact. The key question is whether Ras Al Khaimah will be able to retain tourists once emirates with greater airport and hotel infrastructure authorise their own casinos.
For now, Wynn enjoys a significant first-mover advantage. Its opening in 2027 will give it several years of absolute monopoly before potential competitors complete regulatory processes and construction. This initial period will be critical in consolidating Ras Al Khaimah as the Middle East’s benchmark gaming destination, capturing market share before any eventual fragmentation. Residential properties acquired now will benefit from these golden years of exclusivity, more than justifying the projected location premium.
