Wynn Resorts Names New President for UAE Property

21.08.2024 - 06:28 / skift.com / Wynn Al-Marjan / Ras Al-Khaimah / Wynn Resorts / Josh Corder

Wynn Resorts’ upcoming resort in the UAE has a new president, Max Tappeiner. He joins the Al Marjan Island project from Wynn Las Vegas where he was executive vice president of operations for a year. He replaces Thomas Schoen as chief of the Ras Al Khaimah resort, who joined only in May last year.

Wynn did not specify the status of Schoen’s position. Skift has reached out for a comment.

Tappeiner will begin on September 1, according to a statement from Wynn on LinkedIn. Tappeiner kept in brief in a post on LinkedIn, saying: “I’m looking forward to this exciting journey as we expand to a new territory as the first gaming operator in the UAE.”

Outside of Wynn, Tappeiner has also been senior vice president of Resorts World in Las Vegas for two years, and vice president of operations at The Venetian from 2015 to 2019.

Wynn Al Marjan Island, slated to open in 2027, is located in Ras Al Khaimah in the United Arab Emirates (UAE). It is expected to be one of the first casinos in the region. It is through a partnership with Marjan LLC and RAK Hospitality Holding LLC, it is projected to have 1,500 rooms, suites, and villas along with entertainment and gaming amenities, and 24 dining and lounge venues.

Last month, the official for the UAE’s gambling regulator – the General Commercial Gaming Regulatory Authority (GCGRA) – released its regulations.

According to analysts at CBRE, casinos in the UAE could one day generate as much as $8.5 billion in revenue. That assumes Wynn is one of a handful of casinos to open across the UAE.

CBRE director of equity research John Decree said in a report: “We believe the UAE represents one of the most compelling opportunities in global gaming given its robust existing tourism industry, high propensity for luxury and consumer spending, business-friendly operating environment, strong existing transportation and lodging infrastructure, and virtually no gaming competition in the region.”

His report added: “Wynn Al Marjan Island should generate strong returns, high property margins, and a greater non-gaming mix than Macau and even potentially Singapore integrated resorts.”

While Vegas heavyweights like Wynn and MGM made headlines for entering the UAE, the reality of the country’s gaming industry could be a lot more local, favoring companies already in the country.