Penn Entertainment (Penn) announced it was planning to expand M Resort in Henderson, NV by adding a new hotel tower. Construction on the new hotel tower will begin in 2023. Penn (formerly Penn National Gaming) is planning to spend $206 million to expand M Resort.
Penn’s expansion plans go beyond Nevada and include properties in Illinois and Ohio. The company is restructuring its master lease to help pay for the expansion project.
Hussain Mahrous, Vice President and General Manager of M Resort Spa Casino says:
“Everything we have been doing over the past few years has been to grow and evolve the property and further enhance the customer experience.”
The move comes shortly after the company closed a deal to sell Tropicana to Bally’s Corp. Expansion plans for M Resort come as Station Casinos is teasing the media with possibly building a new hotel-casino in the area.
What are the M Resort, Las Vegas casino expansion plans?
M Resort is one of the most popular Las Vegas casino hotels in the Henderson area. Current competition in the market includes South Point, Sunset Station and new favorite The Pass Casino.
The expansion plan for M Resort includes adding a new tower with 384 hotel rooms to meet increased demand.
The expansion will nearly double the number of hotel rooms at the Henderson casino. When construction is completed, M Resort will have a total of 774 hotel rooms and suites.
Jay Snowden, Chief Executive Officer and President of Penn explained the M Resort expansion, saying:
“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.”
M Resort has been popular with Las Vegas locals since opening in 2009. In addition to being a beautiful upscale off-strip property, M Resorts’ popularity continues to grow with local and national sports fans.
Raiders and Silver Knights official headquarters
M Resort is the official team headquarters of the Henderson Silver Knights minor league hockey team. The hotel is located near the Raiders Performance Center in Henderson and is also the official team headquarters hotel of the NFL team.
M Resort is also the home to the official bar and restaurants for both teams. The casino has the full-service Raiders Bar & Grill along with the Knight Time Bar located next to the sportsbook.
When the Raiders partnership was first announced, team President Marc Badain said:
“Some of us have already experienced the first-class service and excellent amenities at M Resort which is in close proximity to our Performance Center, and we look forward to extending those opportunities to others in the Raider family.”
While both partnerships are local, the Raiders also bring national recognition with the incredible popularity of the NFL team. Fans of visiting teams continue to dominate Allegiant Stadium crowds for Raiders games.
The Silver Knights are the minor league affiliate of the nearby Las Vegas Golden Knights of the NHL. The COO for the Silver Knights Chase Jolesch said:
“The team at M Resort did a fantastic job integrating the Silver Knights brand throughout the space, in addition to coming up with top-notch food and drink offerings. We know the community and our fans will enjoy it just as much as we do.”
Station Casino to build Henderson property
During an earnings call earlier this year, the company said it will be building new properties one at a time. It appears as though Station Casinos is speeding up that process.
Station Casinos will begin construction on a casino in the Insperada section of Henderson once it completes Durango Resort. The company will also move forward with two other new casinos around Las Vegas.
The Inspirada property would be about five miles from M Resort. Station Casinos has not announced plans for the Insperada casino yet. The company could offer some insight during its next quarterly earnings call on Oct. 27.