Penn Entertainment Starts $206 Million Expansion of M Resort

By Jane Shaw Senior Editor Updated: 01/01/2024

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M Resort in Henderson

On December 12, Penn Entertainment held a ceremonial groundbreaking to kick off construction on a major $206 million expansion project at the company’s M Resort Spa Casino property in Henderson, Nevada.

The regional casino giant aims to capitalize on strong demand in the Las Vegas suburb by adding new hotel rooms, amenities, and gathering spaces to the resort. Henderson is one of the largest incorporated suburbs of Las Vegas and has many casinos, along with more planned, so venues such as M Casino need to do as much as possible to stand out.

In addition to the expansion of M Resort, Henderson could also see new gaming venues from Red Rock Resorts and Boyd Gaming soon. Both operators already have established presences in Henderson.

New Hotel Tower and Event Space

At the core of the plans is building an additional hotel tower, which will add 384 guest rooms and increase the resort’s total room count to 774. The new accommodations will help accommodate group visits and conventions, which the company notes are currently constrained by limited capacity.

The project budget also allocates funds to expand the casino’s meeting and event facilities by 15,000 square feet. The extra space will allow M Resort to host larger conferences, trade shows, and live entertainment.

While Penn operates the resort, the real estate is owned by Gaming and Leisure Properties. Under the arrangements, the operators are responsible for venue upkeep and enhancement, not the landowners.

Upgraded Local Appeal

Beyond conventions, the resort expansion caters to Las Vegas locals and the city’s influx of new residents from nearby states like California. Located just over 10 miles from the Strip, M Resort offers gaming, restaurants, pools, and entertainment without the hassle of tourist crowds.

Upgrading amenities and potentially adding new dining or entertainment venues would further boost the resort’s regional draw. Penn says it will announce additional details on exactly which new offerings are coming when construction nears completion, likely in mid-2025 based on the estimated 18-month timeline.

Ongoing Investment Across U.S. Market

The M Resort buildout represents Penn’s biggest effort to expand its single Las Vegas-area property. However, it coincides with the company directing funds into new or existing gaming facilities in other states.

Penn is spending $575 million supplied by real estate partner Gaming and Leisure Properties to construct new casinos in Illinois and Ohio. Combined with the Nevada project, the regional gaming firm is pumping $850 million into improving its nationwide portfolio.

CEO Jay Snowden tied the overall capital expenditure plan to Penn’s growth strategy, saying:

We are excited to expand our geographic footprint by building two new properties from the ground up as well as expanding two of our existing premier properties, M Resort and Hollywood Casino Columbus.

While the Las Vegas locals market faces no shortage of competition, Penn is betting its latest investment will strengthen M Resort’s positioning and loyalty among area residents. By debuting the new hotel and amenities in 2025, the company aims to ensure the resort can thrive for years to come.