Land Values Are Soaring in Ras Al Khaimah on Hopes of Legal Casinos
Skift Take
Just a few years ago, it was a floating patch of dirt with a few hotels. Now, Marjan Island is a place people are betting their life savings, and that's even before the casino is open.
The proposed $3.9 billion Wynn Al Marjan has caused a development frenzy in Ras Al Khaimah, the once-quiet man-made island - located about 70 minutes drive from Dubai International Airport. Just about every major hotel operator has a project underway, and as Bloomberg reported last month, developers have snapped up every available plot.
Much of the excitement stems from hopes for gaming – something that is still illegal in the United Arab Emirates.
Speculation has come from plans for the Wynn resort that show a gaming floor 18,500 square meters in size – bigger than its casinos along the Vegas Strip. The resort has hired a slot machine consultant. In August 2023, Wynn CEO Craig Billings said on a call with investors t
