Gaming commission OKs licensing for M Resort

By Richard N. Velotta

Thursday, Jan. 22, 2009 | 12:26 p.m.

The Nevada Gaming Commission today unanimously approved licensing of Southern Nevada's newest casino, the 390-room M Resort.

The property, at Las Vegas Boulevard South and St. Rose Parkway, is expected to open March 1.

Anthony Marnell III, son of Anthony Marnell II, developer of the Rio property, said the M will be "small but sophisticated" and most of the larger-than-average-sized rooms have spectacular views of the Las Vegas Valley.

Marnell's father helped design the M and the father-and-son team told commissioners that working on the project together was gratifying.

Marnell also told regulators that the property would have a 92,000-square-foot casino and nine restaurants that will have views of the Las Vegas skyline.

Construction on a Galaxy Theaters complex is expected to begin shortly after the resort opens, but Marnell said a 1 million-square-foot retail outlet planned on the property would be delayed two to three years.

Commission Chairman Peter Bernhard said although the slow economy makes the resort project somewhat risky, he was "pleased and impressed" with the company's presentation.

In other business, the commission unanimously approved licensing of Australian multinational company Crown Ltd. to acquire Cannery Casino Resorts, which operates the North Las Vegas Cannery and the Eastside Cannery in Las Vegas.

Crown also has a 19.6 percent stake in the Fontainebleau property under construction on the north end of the Las Vegas Strip, scheduled to open in September.