“These projects will also contribute to our strong free cash flow generation upon opening in late 2025 and early 2026.” “We expect these four growth projects to deliver a 15-plus percent cash-on-cash return,” Snowden said. The M Resort expansion budget is the second largest of the four casinos. In its initial announcement, Penn didn’t provide a timeline for M Resort and company executives have declined interviews about its plans for the Henderson casino. Penn has not given any schedule for the casino expansions, including for the M Resort.
Penn plans to spend $800 million combined on expanding M Resort, Hollywood Columbus and two Illinois casinos. Snowden said the Henderson resort was one of the casino operator’s “highest-performing properties” along with the Hollywood Casino in Columbus, Ohio, which is also targeted for an expansion.
