New tower planned for M Resort amid expansion project

(Courtesy of Penn Entertainment)The M Resort, situated at the corner of Las Vegas Boulevard and St. Rose Parkway in Henderson, is seen Wednesday, Oct. 16, 2019. The M Resort is shown on Monday, Oct. 10, 2022, in Henderson. The M Resort, located at the corner of Las Vegas Boulevard and St. Rose Parkway in Henderson, is seen Wednesday, Oct. 16, 2019.
M Resort operator Penn Entertainment submitted prepare for a brand-new tower at its Henderson hotel-casino, months after it unveiled a $200 million-plus growth task.

Penn sent an application last month for an idea plan review with the city of Henderson that described plans for a new 375-room hotel tower, 40,000-square-foot convention center and multiplex theater at the M, situated at the corner of Las Vegas Boulevard and St. Rose Parkway at the valley's southern edge.

The plans were arranged for a city staff evaluation recently.

Agents for Penn did not react to requests for remark Monday.

The Pennsylvania-based gambling establishment operator revealed a $206 million growth for the M in October, stating the 2nd tower would include 384 rooms and 15,000 square feet of conference area. It said in a press release that it planned to begin building this year.

As it stands, the 390-room M Resort boasts more than 90,000 square feet of casino space and numerous dining establishments and bars.

The M's growth isn't the only resort development in the pipeline for Henderson.

Station Casinos submitted plans for a 600-room job in the Inspirada neighborhood. The resort would be integrated in 3 phases and include more than 80,000 square feet of gambling establishment area, along with retail, dining establishments, bars, a bowling alley, theater and conference area.

The Henderson City Council in early 2021 also approved plans to offer nearly 9 acres of city-owned land across from the M to the resort's initial designer, Anthony Marnell III.

Under the terms of the sale, Marnell has numerous years to close the purchase, albeit at an escalating price the longer it takes.

The list prices will range from roughly $4.3 million to $6.2 million, city documents show.

Marnell, chairman and CEO of Las Vegas-based Marnell Companies, informed the Review-Journal on Monday he will close the purchase but doesn't understand when. He likewise doesn't have a timeframe for when he may start construction on a resort there.

Strategies call for Marnell to invest and construct a hotel-casino at least $250 million in the task.

Marnell said he enjoys the area however pointed to the M's expansion and Station's new task, adding that these other gambling establishment operators are actively underway on their strategies.

"I'm not in any hurry to simply go build another casino," Marnell stated, keeping in mind the timing has to be.

The M remained in the works before Las Vegas' crazy real estate market crashed well over a years back, however eventually, the resort opened its doors on March 1, 2009, in the middle of the worst recession in decades.

Marnell has said it cost around $750 million to develop the resort. Penn, formerly called Penn National Gaming, bought the debt on the project in 2010 for $230.5 million and took control of the resort the list below year.

Marnell stayed on as president however left the M in 2015.

His company isn't done with the task. Penn revealed last fall that Marnell Architecture, which is under the Marnell household's business umbrella, is designing the M's 2nd tower.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.