This acquisition of an iconic asset offers us a presence in a global gateway city and will create a conduit for Wynn guests to visit our resorts, particularly Wynn Al Marjan Island, which is slated to open in the first quarter of 2027 in Ras Al Khaimah in the United Arab Emirates.
Los Angeles is experiencing a challenging real estate landscape, influenced by tariffs and a major rebuilding effort post-fires, with industrial leasing stagnant and sales sharply declining.