Home » VT News » Penn National Officially Takes Over M Resort

Penn National Officially Takes Over M Resort

By Chuckmonster on Thursday, 5th May 2011 4:39pm
  » filed under Mergers & Acquisitions  comments: 2

   

Yesterday, the Nevada Gaming Commission approved Penn National Gaming's takeover of the M Resort which was acquired in a $230M debt swap in October 2010.

When speaking at the hearing, Penn honchos stated that they plan to keep the current management team in place to operate the property, including the visionary behind the construction and operation of the property Anthony Marnell III.

When we first heard of this deal, we were concerned that Penn might wish to squeeze the property for quick and hard ROI by tightening up the games and cutting corners on dining and amenities, turning the M into Penn Station. From what we can gather Penn's focus seems to be on raising awareness of the property through cross marketing through existing databases in their network of riverboat casinos roaming the seas of the felt jungle.

Perhaps its time for a return visit and thorough inspection? Hell, we could even take the M's very reliable and incredibly pimpin' shuttle service.

I'm curious if any of you trippers happen to see any M Resort signage at your local Penn National joints or have received any M pimping mailers from Penn as well. Get in touch!



Tagged: m resort   penn national   





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Comments & Discussion:

A little surprised Marnell stays but I think it shows PNG really wants to make a go of it. Probably a great decision for them and overcoming NIH can be hard... Nice.

My contacts at M seem as optimistic as ever, so I think he really is staying on.



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