Las Vegas Commercial Real Estate

MGM has sold its Colorado Belle and Edgewater hotel-casinos in Laughlin to a group led by Anthony Marnell III for $200 million. The combined properties sit on 57 acres and hold 2,535 guest rooms and 138,000 sf of casino space.

Marnell is founder of the software company, Tririga, and chairman and CEO of M Resorts. Marnell and Ed Sher of Sher Gaming LLC purchased the two properties. They had also previously purchased the Saddle West Hotel and Casino in Pahrump, NV. Marnell’s other well known project is the M Resort. A $1.8 billion mixed-use casino, resort and commercial center several miles south of the Strip on Las Vegas.

This entry was posted on Thursday, October 19th, 2006 at 1:56 am and is filed under Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.