Penn Entertainment Bringing Hollywood Casino Riverboats Ashore in Illinois
Penn Entertainment is bringing its Hollywood Casino riverboats inward Land of Lincoln inland. It’s voice of an $850 1000000 investment funds fling from the Pennsylvania-headquartered casino operator.
Penn, formerly Penn National Gaming until the organization’s rebranding earlier this year, plans to displace its Hollywood riverboats in Aurora and Joliet ashore to young land-based facilities. In 2019, Illinois’ elaboration of gambling, headlined past a downtown Windy City integrated holiday resort and 5 littler casinos inwards the Windy City suburbs, included provisions to allow the state’s 10 riverboat casinos to seek res publica commendation to make a motion inland.
Penn Entertainment plans to come simply that with Hollywood Casino Aurora and Hollywood Casino Juliet.
Since the convert inwards practice of law to countenance land-side casino relocation inward Illinois, we get been exploring the viability of relocating our aging riverboats inward Aurora and Joliet. Thanks to the keep of our local community of interests leaders … we are rattling excited to be moving forrard with these projects,” said William Penn Entertainment President and CEO Jay Snowden.
In Aurora, William Penn plans to grow a unexampled brick-and-mortar casino and hotel conterminous to the Chicago Premium Outlets to put back the riverboat. In Joliet, Penn intends to construct a unexampled land-based cassino as component part of the John Rock Run Crossings retail development.
$545M Budgeted inward Illinois
Penn Entertainment has go down away $360 gazillion for the Aurora project. The Chicago Premium Outlets, set just now off Interstate 88 at Exit 119, is a little more than threesome transmit miles nor'-east of where Hollywood Casino Aurora is currently located. The riverboat is moored on Stolp Island on the Charles James Fox River.
The proposed gambling casino features a 200-room hotel and gambling casino story with 900 one-armed bandit machines and 50 tabulate games. group A Barstool Sportsbook is additionally inward the plan, as is a full-service spa, numerous bars and restaurants, and a 10,000-square-foot events center.
Construction on Hollywood Casino Aurora’s time to come home is localise to start inwards later(a) 2023, topic to say and metropolis regulatory approvals.
In Joliet, William Penn has budgeted $185 gazillion to establish a land-based gambling casino at Rock Run Crossing, south-east of the I-80 and I-55 interchange. The targeted development land site for the brick-and-mortar cassino is rough deuce beam miles from the electric current Hollywood Casino Joliet riverboat.
The architectural plan is to establish a “modern, best-in-class” casino at John Rock Run featuring 800 slots, 45 tables, and a Barstool Sportsbook. Several restaurants and watering holes, along with a 10,000-square-foot events center, are also in the blueprint. Construction inwards Joliet is also slated for late 2023, also topic to body politic and local approvals.
Additional William Penn Spending
The remaining $305 billion inwards outlay proclaimed by William Penn Entertainment today will go game towards doubling the size of it of the m Resort hotel inward Las Vegas and constructing a young hotel tower at Hollywood Casino Columbus.
M Resort has been allocated $206 trillion to add together 264 hotel rooms to the luxuriousness property, set almost eighter from Decatur miles due south of the Las Vegas Strip.
Hollywood Cristobal Colon currently doesn’t experience an on-property hotel. William Penn plans to drop some $100 jillion to establish a 180-room hotel.
Penn Entertainment says the $850 trillion inward tote up contrive costs will live funded by amending the company’s get the hang charter with its existent estate investment funds trust Gaming and Leisure Properties. The tangible land swear will cover $575 gazillion of the $850 million, and so growth yearly hire rates for William Penn Entertainment to run the foursome gambling casino resorts.