Summary:
- The Nevada GC signed off on members of the Marnell family taking over ownership of the Prospector Hotel & Gambling Hall in Ely.
- The decision came despite scrutiny faced by Anthony Marnell over an underage gambling and drinking incident.
- Marnell plans to expand the property with additional hotel rooms and slot machines.
The Nevada Gaming Commission has approved the Marnell family’s acquisition of the Prospector Hotel & Gambling Hall in Ely with Marnell Gaming founder and chief executive officer Anthony Marnell III as manager of the trust.
Marnell, who has a significant background in Nevada’s gaming industry, including the development of the M Resort in Henderson, faced scrutiny during the approval process over an incident involving his underage children, who used fake IDs to drink and gamble at the Wynn Las Vegas.
“I have a lot of regrets. It was a really big mistake on my part”, Marnell admitted, calling it a lapse in judgment and a departure from his usually strict approach to licensing responsibilities.
Reflecting on his 25-year career as a casino licensee, Marnell, who stated he was unaware that his son had previously been ejected from the Wynn for underage attendance, acknowledged this experience as a reminder to stay diligent in upholding gaming standards.
“A Show of Arrogance”
Commissioners expressed concern about the incident, with Rosa Solis-Rainey describing it as “a show of arrogance” contrary to Marnell’s demeanor, adding it “seemed out of character” as she considers him “a good licensee”.
The commissioners also noted the impact on Wynn’s employees involved in the incident, with a dealer and a supervisor being suspended.
Commissioner Abbi Silver expressed approval for Marnell’s efforts to promote growth and employment in Ely, commending his accountability over the incident.
Commissioner Brian Krolicki, former lieutenant governor, supported the decision, calling the Prospector a cultural asset and noting Marnell’s “authentic contrition“.
He added, “We’ve all had to wrestle through situations like this; being licensed just makes it different”.
Despite the criticism, Marnell’s extensive contributions to the community and his accountability during the hearing led the Commission to support his licensing.
Expansion Plans Underway
The acquisition, managed under Terzetto LLC, a newly formed entity of the AM3 2012 Trust, will keep the property in good condition, a key factor for Marnell.
The Prospector Hotel & Gambling Hall has 60 hotel rooms, 138 slot machines, a William Hill sports betting kiosk, a restaurant, and a bar.
Marnell plans to expand the property with 60-90 additional hotel rooms, 20 to 30 more slot machines, and a larger bar area.
The current staff of 27 full-time and 11 part-time employees will be retained, with benefits and a bonus plan in place.
Reflecting on the opportunity, Marnell said,
I’m not usually looking for properties this small, but I thought this was unique.
He noted the property’s excellent condition and its potential for growth, particularly with its proximity to mining activity in the area.
Commissioner Brian Krolicki expressed support, recognizing Marnell’s “authentic contrition” and the family’s longstanding contributions to Nevada’s gaming industry.
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