Las Vegas Power Couple Lists Home in the Nevada Desert for $19.5 Million

Jenna and Michael Morton have created some of the best-known nightclubs and restaurants in Las Vegas.

But when building a home in the area for their family, they veered away from the glitzy excess of the Strip in favour of a calming, desert retreat.

That’s not to say entertainment was an afterthought: The roughly 2-acre property in the Summerlin neighbourhood has a 60-foot outdoor slide and a DJ booth.

“We are in Las Vegas,” Jenna said. “It’s part of what we do in this town. We do fun.”

Now, after about 20 years of fun, the Mortons’ three children are out of the house, and they are listing the home for $19.5 million.

Michael is a son of Chicago restaurateur Arnie Morton, who founded Morton’s The Steakhouse, which has more than 50 locations nationwide.

His brother Peter Morton co-founded the Hard Rock Cafe, and Michael and Jenna operate restaurants including Crush at the MGM Grand and La Cave Wine and Food Hideaway at Wynn Resorts .

The couple paid $1.25 million for the vacant Summerlin site in 2003. At the time, they were living in Chicago but planning to move to Las Vegas to be closer to their work.

Located in the Ridges, a gated community about 15 minutes from the Strip, the property is at the end of a cul-de-sac abutting the Red Rock Canyon National Conservation Area.

“The first time we were there, there were wild burros behind us,” Michael said.

The single-story house spans about 9,400 square feet and curves toward the canyon for privacy and mountain views.

“The curve is an embrace of the mountains,” said Jenna during a video call as she walked outside, the vista framing her face.

In contrast to the over-the-top vibe of Las Vegas hotels and casinos, the couple’s aesthetic at home is what Jenna described as “Japan meets desert,” with clean lines and neutral colours.

The house has seven bedrooms; the primary bath has a soaking tub made out of a boulder.

A wine room has colour-changing Lucite pegs that hold hundreds of bottles. A separate, roughly 530-square-foot guesthouse has a roof deck.

The property is mostly flat, with the exception of a sloped section where the Mortons built the tiled slide, which drops into the pool.

“I looked at it and said, ‘There will be a slide on that hill,’” Michael recalled. It isn’t just children who have enjoyed it—he and Jenna and many of their friends have taken a turn. “A lot of adults hit that slide,” he said.

The Mortons said they entertained frequently, from fundraisers to a birthday party where their son filled an outdoor trampoline with bubbles.

For Jenna’s 40th birthday, the couple hosted a 1960s-themed party that began with a 200-person sit-down dinner, followed by toasts and karaoke.

Michael enlisted the rock band Cheap Trick to make a surprise appearance during karaoke.

As Jenna took the microphone and started belting out their song “I Want You to Want Me,” the band began playing behind her. “We took the rods out of the reactor that night,” he said. undefined

Although selling is bittersweet, the Mortons said they want something smaller now that their children are grown.

The couple—he is 61, she is 59—have a second home in Manhattan Beach, Calif., and they plan to build a smaller house in Las Vegas.

The luxury market in Las Vegas has exploded over the past few years, said listing agent Kristen Routh-Silberman of Douglas Elliman.

There were 76 sales in the Las Vegas area above $10 million in 2025, up from 59 a year prior, she said. The record is held by a home at the Summit Club that traded for $35 million in 2024.

A recent building boom means inventory is finally catching up to demand, according to Routh-Silberman.

The spring market has started early this year, and there seems to be more activity thanks to demand from California and Washington transplants seeking tax advantages, she said.

Australia’s housing market has lost momentum, with Cotality’s latest Home Value Index revealing national dwelling values were flat in May as affordability constraints, higher borrowing costs and weakening buyer sentiment continue to weigh on demand.

The national result masks increasingly divergent conditions across the country.

Sydney and Melbourne led the decline, with dwelling values falling 0.9 per cent and 0.8 per cent respectively over the month.

Sydney values are now 2.1 per cent below their November 2025 peak, while Melbourne values sit 3.2 per cent below their March 2022 high.

In contrast, Brisbane, Perth and Adelaide continued to record growth, although even the stronger-performing markets are beginning to show signs of slowing.

Perth again led the capitals, recording monthly growth of 1.5 per cent and annual growth of 25.8 per cent. Brisbane values increased 0.9 per cent in May and are now 19.1 per cent higher than a year ago, while Adelaide recorded a 0.5 per cent monthly rise and annua growth of 12.3 per cent.

Cotality Research Director Tim Lawless said Australia’s housing market continues to operate at vastly different speeds depending on location.

“We are continuing to see multi-speed conditions across Australia’s housing sector, with Perth and Melbourne at opposite ends of the spectrum,” Lawless said.

“The past five years have seen these cities diverge sharply, with Perth values up a stunning 91.4 per cent while Melbourne home values are only 3.3 per cent higher since May 2021.”

Lawless said while the pace of value growth remains highly varied between cities, a common trend is emerging.

“While the speed of value change remains very different from city to city, the direction is becoming more consistent, with most markets losing momentum as demand-side headwinds intensify.”

The slowdown is becoming increasingly evident in transaction activity.

National home sales over the past three months were estimated to be 2.2 per cent lower than a year ago and 4.1 per cent below the five-year average.

Sydney and Melbourne recorded the sharpest declines in sales activity, down 17.0 per cent and 14.2 per cent respectively compared to the same period last year.

Lawless said higher listing volumes are shifting negotiating power back towards buyers.

“These are also the cities where advertised supply has risen to above average levels, providing more choice and better leverage for buyers,” he said.

The softer conditions come despite ongoing supply constraints across much of the country. Construction costs remain elevated and feasibility challenges continue to limit new housing delivery, even as governments in NSW and Victoria continue to implement planning reforms designed to accelerate approvals and increase apartment supply.

For the new apartment sector, the data highlights an increasingly important divide between established housing markets and the off-the-plan market.

While detached housing markets in Sydney and Melbourne continue to soften, the supply of new apartments remains well below the levels required to meet population growth and federal housing targets.

This imbalance is likely to continue supporting demand for new apartment stock, particularly in major urban centres where affordability pressures are forcing more buyers towards higher-density housing options.

The latest rental figures also reinforce the underlying strength of housing demand.

National rents increased another 0.6 per cent in May, taking annual rental growth to 5.9 per cent. Vacancy rates remain at just 1.5 per cent nationally, matching the record lows experienced during the post-pandemic migration surge.

Lawless said renters are increasingly reaching affordability limits.

“With renters dedicating around a third of their pre-tax income to rental payments, it’s uncertain how much longer this upswing in rents can last,” he said.

The housing slowdown is unfolding against a backdrop of improving inflation data and growing confidence that interest rates will remain on hold when the Reserve Bank meets in June.

Australia’s monthly inflation indicator has continued to trend lower in recent months, reinforcing market expectations that the RBA is unlikely to lift the cash rate again in the near term.

Financial markets and economists have increasingly shifted their focus towards the timing of future rate cuts rather than the prospect of further tightening.

While the RBA remains cautious about services inflation and housing-related costs, recent inflation outcomes have largely eased concerns that another rate rise would be required.

That is providing some support to housing sentiment, although affordability and borrowing capacity remain significant constraints.

For now, Cotality’s data suggests the housing market is entering a more subdued phase rather than facing a sharp correction.

Affordability pressures, weaker confidence and slower sales activity are weighing on demand, while population growth, tight rental markets and constrained housing supply continue to provide a floor underneath values.

The result is a housing market that remains highly fragmented, with Sydney and Melbourne continuing to cool, while Perth, Brisbane and Adelaide remain in growth mode, albeit at a slower pace than seen over the past two years.

Las Vegas Power Couple Lists Home in the Nevada Desert for $19.5 Million

Jenna and Michael Morton’s Summerlin home has a 60-foot outdoor slide, a DJ booth and a wine room that holds hundreds of bottles.

Australia’s housing market was flat in May as falling values in Sydney and Melbourne offset continued growth in Perth, Brisbane and Adelaide.