In a move that will have profound ramifications for downtown Aurora, PENN Entertainment, the Pennsylvania owner of Hollywood Casino in downtown Aurora, announced today that it intends to relocate its riverboat casino to new land-based facility.
In a press release Monday, Jay Snowden, Chief Executive Officer and President of PENN Entertainment, announced the change.
“Since the change in law to permit land-side casino relocation in Illinois, we have been exploring the viability of relocating our aging riverboats in Aurora and Joliet. Thanks to the support of our local community leaders, in particular the visionary leadership of Mayor Richard Irvin and his staff in Aurora, we are very excited to be moving forward with these projects,” said Mr. Snowden.
“Our plan for Aurora is to construct a modern, best-in-class casino and hotel in an ideal location off I-88 that will allow us to serve the millions of visitors to the adjacent Simon Premium Outlet Mall,” said Mr. Snowden.
The news is not a surprise to Aurora officials, who have been in discussions for months with PENN.
“The proposed plans represent one of the most significant economic development investments in the history of Aurora,” Clayton Muhammad, Aurora’s chief communications and equity officer said.
Muhammad released a statement saying a full presentation of the redevelopment deal between the city and Penn Entertainment would take place at Thursday’s City Council Finance Committee meeting at 3 p.m. in the City Council chambers at City Hall, 44 E. Downer Place.
That would be the beginning of the City Council process. Any redevelopment deal requires council approval.
According to the PENN website, it intends to develop the new land-based casino and hotel adjacent to the Chicago Premium Outlets mall, near Exit 119 off I-88 in Aurora. The development, with an estimated budget of $360 million, is expected to include a modern, best-in-class casino and hotel with approximately 900 slots and 50 live table games including a baccarat room and a poker room, a Barstool Sportsbook with the ability to host popular Barstool personalities and approximately 200 hotel rooms. In addition, the property will feature a full-service spa, high-quality bars and restaurants, approximately 10,000 square feet of meeting areas and an event center. Construction of the new property is expected to begin in late 2023, subject to city and regulatory approval.
