Analysts are keeping an eye on how the war in Iran will affect the construction of Wynn Al Marjan Island in the United Arab Emirates.
Kim Noland, head of high-yield research at New York-based Gimee Credit LLC, said the escalation of the war in Iran could have implications for the company’s project in the United Arab Emirates that has topped the hotel tower and is on schedule for a 2027 opening.
“The expansion in the United Arab Emirates is an important geographic diversification for Wynn in what is a rapidly growing tourist destination,” Noland said in a Monday report. “Tourist destinations and businesses that depend on international tourism could all be affected by a war in Iran that causes the consumer to withdraw their international travel plans.”
Wynn officials said in an email last week that there has been no effect on the $5.1 billion project located 50 miles from Dubai International Airport and 70 miles from where some hotels were hit by retaliatory missiles from Iran.
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