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Wynn Resorts, Limited WYNN is set to acquire Crown London (Aspinalls), a members-only casino located in London’s Mayfair district. This acquisition supports the company’s strategy to expand its presence in Europe and the Middle East.
The transaction is subject to regulatory approvals, expected to be finalized in the second half of 2025. The development aligns with the company’s upcoming launch of Wynn Al Marjan Island in the UAE, further boosting its global growth strategy.
WYNN’s Strategic Expansion Into a Global Destination
The acquisition provides Wynn Resorts with a foothold in a prominent global destination. This addition is expected to serve as a connection point for guests visiting other resorts, including Wynn Al Marjan Island in Ras Al Khaimah, UAE, which is set to open in the first quarter of 2027.
Crown London is located in two historic townhouses on Curzon Street in Mayfair, London. It features 20 gaming tables across elegant salons, along with a restaurant and lounge. The property will continue to operate under the Crown London name until the transaction is completed.
Wynn Resorts' Expansion Plans in the UAE
Wynn Resorts continues to make significant strides in its expansion plans within the UAE market. During the third-quarter 2024 earnings call, Wynn Resorts provided an update on its multibillion-dollar integrated resort project in Ras Al Khaimah, UAE. The company reported that the construction is progressing well with the building now at the 24th floor and covering more than 3.6 million square feet.
Wynn invested $18.2 million in Island 3 during the quarter, bringing total contributions to $532.6 million. This investment includes the purchase of approximately 155 acres of land, with 70 acres reserved for future developments as part of the "Marjan Land Bank."
Wynn Resorts sees this project as a strategic entry into the UAE market and is optimistic about its potential. The company believes the UAE's gaming market could grow between $3 billion and $5 billion, presenting a promising new opportunity.
WYNN Stock Price Performance
Image Source: Zacks Investment Research
Shares of Wynn Resorts have declined 4.1% in the past six months against the industry’s 8.2% rise. Although increased operating expenses are a concern, the company is likely to benefit from solid Macau performance, non-gaming businesses and development projects. Also, the focus on enhancing its shareholder value bodes well.
Earnings estimates for 2025 have moved up to $4.77 per share from $4.70 in the past seven days, depicting analysts' optimism about the stock’s growth potential.