WYOMISSING, Pa. & HENDERSON, Nev., September 04, 2025 — PENN Entertainment, Inc. (Nasdaq: PENN) (“PENN” or the “Company”) announced today that it expects to open the second hotel tower at M Resort Spa Casino Las Vegas (“M Resort”) to the public on Monday, December 1, pending customary regulatory approvals. The approximately $206 million project is slated to open months ahead of the original construction timeline. In addition, the Company is partnering with The Emeril Group to bring Meril, one of New Orleans’ most beloved neighborhood restaurants, to the property.
“We’re thrilled to be unveiling our newest development in Henderson on the heels of our recent grand opening of the new Hollywood Casino Joliet in Illinois,” said Jay Snowden, CEO and President of PENN Entertainment. “This new tower and restaurant from The Emeril Group expands our market-leading amenities at M Resort and provides much needed additional room capacity for group business and the overall strong demand of the Henderson locals market.”
The new hotel tower nearly doubles the capacity of the Company’s property south of the Las Vegas Strip, bringing its total to 765 rooms and suites. Meeting space will also increase, as the new, 15,000 square foot Montese Ballroom is expected to open on October 1, 2025. PENN estimates the overall expansion will add 120 new jobs to M Resort’s workforce.
The Emeril Group, founded by Chef Emeril Lagasse, is excited to introduce Meril to the visitors and community of Henderson. This marks the second location of the concept named after Lagasse’s daughter, Meril. The Contemporary American restaurant has earned a loyal following for its warm, welcoming atmosphere and diverse menu inspired by Lagasse’s decades of culinary expertise and global travels. Meril delivers an approachable yet elevated dining experience that reflects the chef’s signature style.
“We can’t wait to begin welcoming more visitors to our market-leading resort,” added Todd George, Executive Vice President, Operations for PENN. “Coupled with our extensive, expanded array of amenities and our highly successful partnership with the Las Vegas Raiders, M Resort is becoming the premier destination for visitors and convention attendees from across the country.”
The new M Resort hotel tower will be the second completed development of PENN’s previously announced growth projects that include new land-based casinos in Joliet (opened on August 11th) and Aurora, Illinois, and a new hotel in Columbus, Ohio. For the M Resort development, PENN anticipates accessing $150 million in funding in the fourth quarter from Gaming and Leisure Properties, Inc. at a 7.79% capitalization rate.