Anthony Marnell Plans New Resort Across From M in Henderson

More than 15 years after building the M Resort, developer Anthony Marnell III is preparing to re-enter the same neighborhood with a brand-new hotel-casino project in Henderson, Nevada. The planned development would rise on a 35-acre site directly across from the property he once owned, putting the two resorts in direct competition.

Good to know

• The project will start with 200 rooms and expand to 600 in later phases.
• Marnell committed to invest at least $250 million after acquiring part of the site from the city.
• Penn Entertainment, current operator of the M Resort, is finishing a $206M expansion this year.

Marnell said the resort is still years away from breaking ground. Speaking to the Las Vegas Review-Journal, he estimated construction could begin in three to five years. He also acknowledged that the property will compete head-to-head with the M, which Penn Entertainment now owns and operates.

The first phase calls for 200 rooms, a casino, a food hall, an entertainment lounge, meeting spaces, and a pool deck. A later phase would add another 400 rooms, bringing the total capacity to 600.

Marnell originally opened the M in March 2009 at a cost of $750 million, just as the Great Recession hit. Reflecting on the timing, he admitted:

“We all knew we were in trouble before the hotel even opened.”

Penn Entertainment acquired the property by purchasing its debt for $230.5 million in 2010, later assuming full control. Marnell officially left the resort in 2015.

Today, Penn is investing another $206 million in the M, adding a second hotel tower set to open on December 1.

In 2021, Henderson’s City Council agreed to sell Marnell nine acres of city-owned land for $4.3–$6.8 million. As part of that deal, he pledged to invest at least $250 million in the new project.

A portion of the site sits in unincorporated Clark County, but Marnell’s team has already asked to annex it into Henderson. The concept plan remains under review by city planners and will need final approvals from both the Planning Commission and City Council.

A Changing Henderson Corridor

The stretch of Las Vegas Boulevard near St. Rose Parkway has transformed in recent years, with new housing, warehouses, apartments, and even the Raiders’ football practice facility. Still, resort development faces headwinds from higher construction costs, borrowing challenges, and slower tourism growth across Las Vegas.

Even with those challenges, Marnell sees opportunity.

“I think there’s enough room for a couple players,” he said.

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