Penn Entertainment Monday said a groundbreaking ceremony scheduled today for a second hotel tower at M Resort in Henderson, Nevada, will begin at 2 p.m. PT.
With an estimated budget of $206 million, the new hotel tower will add 384 rooms to the property located south of the Las Vegas Strip, bringing the total number of rooms and suites at M Resort to 774. There also will be expanded meetings space and updated amenities, in addition to local partnerships to be announced at a later date.
“This new addition will benefit from the strong demand of the Henderson locals market, while providing much-needed additional room capacity for group business that is drawn to our resort and amenities, including our partnership with the Las Vegas Raiders.” said Penn Entertainment CEO and President Jay Snowden in a statement.
The M Hotel tower project is part of a previously announced plan of growth projects including new land-based casinos in Aurora and Joliet, Illinois, and a new hotel in Columbus, Ohio. Aurora is providing $50 million in funding for the project in that city. Gaming and Leisure Properties is committing up to $575 million toward the overall $850 million budget for all four growth projects.
