The Nevada Gaming Commission recently granted its approval for the Marnell family, longtime contributors to Nevada’s casino industry, to take ownership of the Prospector Hotel & Gambling Hall in Ely. Anthony Marnell III, CEO of Marnell Gaming and head of the AM3 2012 Trust, led the acquisition through Terzetto LLC, a new entity formed for the transaction. Marnell, known for creating the M Resort in Henderson and formerly associated with the Rio, plans to continue the property’s legacy while exploring growth opportunities in the area.
At the commission meeting, Marnell candidly addressed an incident involving his underage children using false identification to gamble and consume alcohol at Wynn Las Vegas. He admitted his oversight, reflecting on the values he’s instilled in his children about learning through consequences. “Unfortunately, this was not the right place to do it,” Marnell stated. “I have a lot of regrets. It was a really big mistake on my part. That’s the most honest answer I can give you. It was a poor decision on my part.” He explained that while he’s maintained rigorous standards as a licensee for 25 years, the incident occurred during a period when he was no longer licensed.
Marnell’s acknowledgment of the incident resonated with the commissioners, who balanced the lapse in judgment with his longstanding contributions to the state and community. Commissioner Rosa Solis-Rainey, cited by CDC Gaming, commented that the incident was out of character, saying, “Your family has done some very good things for the community. You’ve been a good licensee, so I was surprised by it.” The commission ultimately determined that Marnell’s professional history warranted moving forward with the licensing.
Plans for Ely’s Prospector Casino
The acquisition of the Prospector Casino includes the hotel and 12 surrounding acres, positioning Marnell to bring the property under his well-known development expertise. Though not typically drawn to smaller properties, Marnell explained that the Prospector’s unique appeal and location near Ely’s mining operations presented a promising opportunity. “I’m not usually looking for properties this small, but I thought this was unique,” Marnell noted. “It’s been heavily invested in and kept in phenomenal condition. It has the luxury of having the Holiday Inn next to it. I thought over time in Ely, there could be growth from mining.”
The Prospector Casino’s current layout includes 60 hotel rooms, 138 slot machines, a William Hill sports-betting kiosk, one restaurant, and a bar. Plans under consideration may expand the site with 60 to 90 additional hotel rooms, a larger bar area, and 20 to 30 more slot machines. The Marnells are committed to retaining the existing 38 staff members, all of whom will receive health benefits and a bonus plan, demonstrating their dedication to supporting local employment.
A Record of Redevelopment and Community Commitment
Throughout his career, Marnell has developed a reputation for turning underperforming properties into revitalized assets. His past ventures include repositioning and upgrading casinos such as the Edgewater and Colorado Belle in Laughlin, which Marnell sold to Golden Entertainment in 2019. Marnell also served on Golden’s board of directors until earlier this year, underscoring his longstanding influence in the Nevada gaming industry.
The Prospector Casino acquisition aligns with this legacy, as Marnell focuses on preserving and enhancing the property’s assets without needing extensive renovations. Commissioners expressed optimism about the property’s future under Marnell’s leadership, with Commissioner Abbi Silver noting, “I’m happy Marnell is promoting growth in Ely and employing residents.” Similarly, Commissioner Brian Krolicki highlighted the cultural value of the Prospector to Nevada, adding that he was pleased to see it remain under Marnell’s stewardship.
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