PENN Entertainment (NASDAQ:PENN) is investing in a major expansion of one of its key properties.
The M Resort Spa Casino in Las Vegas is undergoing a major, multi-million-dollar expansion, which is scheduled for completion in early 2026. The project includes a second hotel tower, which will nearly double guestroom capacity from 390 to 774 rooms and suites, and introduces 15,000 square feet of additional convention space and a new ballroom set to open in winter 2025.
The first phase of the M Resort expansion featured a fully renovated and expanded 92,000-square-foot casino floor with upgraded table games, a refreshed high-limit room, modern lighting, new pathways, and enhanced guest seating. The company highlighted that design enhancements emphasize the desert’s natural beauty and aim to elevate the resort’s identity as a luxury retreat. Other improvements include new restaurant concepts, upgraded amenities, and expanded partnerships, notably leveraging its role as the official team hotel for the NFL’s Las Vegas Raiders, whose training facility is nearby.
The M Resort Spa Casino is located in Henderson, Nevada, about eight miles south of the Las Vegas Strip, and marks the southernmost casino in the Las Vegas Valley.
The M Resort is owned by Gaming and Leisure Properties (NASDAQ:GLPI) and operated by PENN Entertainment (NASDAQ:PENN), which is responsible for its day-to-day management and ongoing expansion projects.
Other significant PENN (NASDAQ:PENN) properties include Hollywood Casino at PENN National Race Course in Pennsylvania, Hollywood Casino at Charles Town Races in West Virginia, Hollywood Casino at Greektown in downtown Detroit, Hollywood Casino at Kansas Speedway in Kansas City, and Hollywood Casino Joliet in Illinois, which opened at a new location in August.
Shares of PENN Entertainment (PENN) have perked up over the last six weeks, with a 12% rally. Notably, short interest on PENN stands at 13.6% of the total float.