The developer of the M Resort, Anthony Marnell III, has asked to build another casino, opposite of where M Resort is currently at. Following the interest, Henderson city council will consider selling the nine acres piece of land to Marnell Gaming Management situated on the east of Las Vegas Boulevard and north of St. Rose Parkway. Henderson got this piece of land in April last year from the federal Bureau of Land Management, hoping to develop it soon. Today, the nine acres of land is valued at $6.5 million.
In the report on the city council agenda, Marnell gaming had expressed his interest in purchasing nine acres of land to develop, construct and run a resort hotel with as many games as possible and other amenities. This property will be operated, managed, and maintained by Marnell. The Marnell gaming management also plans to call for investment on the new property, including land price cost and development, which could amount to $250 million. This new investment will provide 100 full-time jobs, among other changes.
More About the New Casino Development
Although Marnell developed and ran M Resort since it opened in 2009 on 90 acres of land, the casino was acquired two years later by Penn National Gaming after the Great Recession. The resort development consumed nearly $1 billion, thrice the amount listed as the first development of the upcoming Marnell project.
According to Brendan D. Bussmann, director of government affairs with Global Market Advisors, the south of the town’s proposed project is in an area projected to grow. The development of a new facility will propel growth in the city and increase future growth opportunities. Bussmann also added that the Marnell project showed that Vegas would eventually bounce back to business and hoped that more opportunities for the residents would come in the future.
The director also said that Marnell’s proposal came at the right time, considering it takes several years to create any development. Bussmann was referring to the current economy shutdown following the coronavirus pandemic since Vegas will reemerge just in time when the new project will be coming to completion.
The Project’s Details Are Yet to Be Unveiled
Although details on the new project are yet to be unveiled, the director of government affairs in west Henderson said that the $250 million proposals could be only the start amount. This means the project might consume more, which is allowed as project development continues. Bussmann also added that the amount seemed tight considering the development will come with a strip mall to the east.
Bussmann added that the city already had plans for the piece of land ten years ago. One of the projected development was to build large-scale retail in one of the four corners of the intersection as well as other resorts. West Henderson has remained a great development area with housing projects such as Inspirada. Other expansions in west Henderson include commercial buildings along St. Rose Parkway, Henderson Executive Airport, Las Vegas Raiders headquarters, and practice establishment.