HENDERSON, Nevada— Penn Entertainment plans to add a second hotel tower at M Resort in Henderson, Nevada. The project, with an estimated budget of $206 million, will add approximately 384 rooms to the company’s property south of the Las Vegas Strip, bringing M Resort’s total to 774 rooms and suites. Along with additional guest rooms, the project will include expanded meeting space, updated amenities and additional local partnerships that will be announced at a later date.
“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,” said Jay Snowden, Penn Entertainment president and CEO.
Penn Entertainment’s expansion of M Resort, one of its best-performing properties, is subject to municipal approvals.
The second hotel tower was announced along with Penn Entertainment’s plans to relocate its riverboat casinos in Aurora and Joliet, Illinois, to new land-based facilities and to build a new hotel at Hollywood Casino Columbus in Ohio.
In connection with these projects, Penn has entered into an agreement with Gaming and Leisure Properties to create a new master lease that would include the two new facilities in Aurora and Joliet, in addition to Hollywood Columbus and Hollywood Toledo, both in Ohio, the M Resort in Nevada, the Meadows in Pennsylvania and Hollywood Perryville in Maryland. Under the agreement, Gaming and Leisure Properties will fund up to $575 million of the approximately $850 million overall budget for the four projects.
Find more information on the Penn Entertainment website.