Las Vegas’ M Resort to Double in Size
Posted on: October 10, 2022, 11:10h.
Last updated on: October 10, 2022, 11:47h.
Penn Entertainment on Monday announced a new $206 million tower that will double the capacity of its M Resort, located 10 miles south of the Las Vegas Strip. The project is part of an $850 million expansion of four Penn properties in Nevada, Illinois, and Ohio.
The new tower will add about 384 rooms, bringing the M Resort’s total to 774 rooms and suites. As part of the project, meeting space will be expanded and amenities updated. Additional local partnerships will be announced at a later date, according to a Penn press release.
No timeline was announced for the project.
M Expansion Part of Bigger Plan
Penn Entertainment, a regional casino and racetrack operator based in Wyomissing, Penn., took control of the M in 2011 after purchasing its $230M debt at a nearly 75% discount. The company also said it plans to relocate its two Illinois riverboat casinos to new land-based facilities and build a new hotel at Hollywood Columbus in Ohio.
Its $850 million in expansions are backed by up to $575 million in funding from Gaming & Leisure Properties Inc.
“At the M Resort, the addition of a second tower will benefit from the strong demand in the Henderson locals market while providing additional capacity for the group business that is drawn to our market–leading resort and amenities, including our highly successful partnership with the Las Vegas Raiders,” Penn CEO Jay Snowden said in the release.
Opened in March 2009, the M Resort Spa Casino is situated on more than 90 acres at the southeast corner of Las Vegas Boulevard and St. Rose Parkway in Henderson, Nev. The resort features more than 92,000 square feet of gaming space, including 1,900 slot machines, 64 table games, 14 poker tables, and a race and sports book.
Other M-Adjacent Things that Could Double in Size
It may not be only the M Resort doubling in size south of the Strip. Some Las Vegas experts say the Strip itself – which has measured 4.2 miles long since the “Welcome to Fabulous Las Vegas” sign went up near the old airport entrance in 1959 – may add another 4.2 more miles to its south end over the next decade. That’s less than half the distance to the M, but close enough to make the M a lot closer to the action.
LA-based developers the Oak View Group are building a $3 billion, NBA-ready arena and entertainment district with 20K seats and a 2,000-room casino hotel at Blue Diamond Road. Scheduled to begin construction in 2023 and open in 2026, it will occupy 25 acres near the intersection of I-15 and I-215, adjacent to the Las Vegas terminal for the planned Brightline high-speed rail between LA and Las Vegas.
In July 2022, ground broke on the $550 million Dream Las Vegas Hotel & Casino, located south of Russell Road. The 531-room resort is expected to open in 2024. That same month, Station Casinos paid $172.4 million for 126 acres of land to build a new casino resort on the southwest corner of Las Vegas Boulevard and Cactus Avenue.
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