The purchase of the Prospector Hotel & Gambling Hall in Ely has been approved by the Nevada Gaming Commission, according to Anthony Marnell III, the well-known founder of Marnell Companies. Another significant milestone in Marnell’s illustrious career as a Las Vegas entrepreneur with a knack for building and renovating iconic businesses is the acquisition, which also includes 12 acres of neighboring land.
The Unique Appeal of Ely’s Prospector Hotel & Gambling Hall
Marnell has been interested in the Prospector since 2019. The property’s owners first mentioned it would be available in 2023 during early talks in 2020. Now that Terzetto LLC has been established, Marnell’s acquisition procedure is proceeding in accordance with a deal agreement that was initiated last year. The transaction needed regulatory approval, which the Nevada Gaming Commission recently provided, but the purchase price is yet unknown.
Known for his expertise in building and transforming gaming resorts, Marnell intends to invest significantly in the Prospector. As he shared, “I’m not usually looking for properties this small, but I thought this was unique. It’s been heavily invested in and kept in phenomenal condition.” He also sees growth potential in the region, noting that “over time in Ely, there could be growth from mining.”
Marnell envisions expanding the Prospector to include 60 to 90 additional hotel rooms, complementing the existing 60 rooms. Plans also involve boosting the casino’s gaming options by adding 20 to 30 more slot machines to its current 138. Other upgrades include enhancing the bar area, creating a more inviting atmosphere for guests.
The Nevada Gaming Commission brought up a previous incident during the acquisition approval process. In this case, it was reported that Marnell’s minor children were able to use fictitious identification to get alcohol and gamble at the Wynn Las Vegas. Marnell acknowledged that they made a “big mistake” and stressed that he was unaware of the occurrence. A supervisor and a dealer were suspended as a result of the incident.
Despite this setback, Marnell’s dedication to local communities and his extensive contributions to Nevada’s casino sector were key factors in the Commission’s approval. Marnell is well-positioned to increase Ely’s appeal with his plans for development at the Prospector, guaranteeing guests a better and livelier gaming experience.
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