The move comes after Penn Entertainment confirmed its plans to put down an additional $850 million on various expansion moves, which will not only apply to the M Resort, but also cover other of the company’s properties outside Nevada.
Penn Entertainment Gets Started with M Resort Expansion
As to M Resort, Penn has earmarked $206 million of its purse to expand the property as it expected higher demand for gaming and accommodation. Penn is looking at adding 384 rooms, which will bring the total to 774, as confirmed in an official statement.
The property will also update the amenities and expand meeting spaces. Although the company does not own the property, the buck is on the operator of the venue to ensure that it remains competitive through innovations and refurbishments, including expansions.
Based in Henderson, the venue is in a good position to use its refreshed look to siphon off tourists and visitors from competing properties and further establish itself as a local leader in a contested market. The M Resort expansion should go business as usual with Penn Entertainment expecting no disruptions in its planned realization schedule.
Construction should begin by late January or early February, and it should take the working crews around 18 months to bring the expanded property to completion.
M Resort VP and general manager Hussain Mahrous has welcomed the opportunity to see the local property continue to grow and added that the operator was excited to hire more people and contribute to the local job market.
“We look forward to hiring new team members and expanding the wonderful offerings that make M Resort a premier destination for visitors and convention attendees from across the country,” Mahrous explained.
Operating at Capacity, Time to Meet Demand
Mahrous also commented on the recent motivation to expand the M Resort property. Essentially, the property is running at capacity on busy weekends in Las Vegas, as highlighted by a string of recent events, and more prominent gatherings coming to pass in future years, including the Super Bowl at the Allegiant Stadium in Las Vegas, Nevada on February 2024.
M Resort will certainly not be on time to meet demand for the Super Bowl, but Las Vegas and Nevada continue to draw well-heeled tourists that M Resort simply doesn’t want to miss out on. Expanding its capacity to meet this surging and sustained demand is what the company pursues right now.