Construction begins on $360 million Hollywood Casino Aurora land-based resort
Hollywood Casino Aurora officials said the hotel's upcoming brick-and-mortar resort will break ground on Wednesday, Nov. 29. The $360 million development comes more than four years after Illinois lawmakers agreed to allow riverboats to sail inland.
Penn Entertainment, operator of Hollywood Aurora, said Tuesday that a groundbreaking ceremony will be held tomorrow at 2:45 p.m. CT. The event marks the start of the construction project, which is expected to take 24 months to complete.
We are excited to soon begin construction on a new, state-of-the-art Hollywood Aurora Casino. ” said Jay Snowden, CEO and President of Penn Entertainment.
Hollywood Casino Aurora is a riverboat gaming destination that opened in June 1993. The casino opened with just two riverboats, but they were later replaced by a 70,000-square-foot floating semicircular permanently anchored structure.
As of October, Hollywood Casino Aurora’s gross gaming revenue (GGR) was approximately $81.9 million. So far this year, it ranks fourth among the state's 15 casinos.
Resort Development
In 2019, Illinois lawmakers agreed to allow casinos to move inland. In October 2022, Penn Entertainment announced its intention to build a new land-based casino in Aurora to replace an aging floating facility.
Forever Resort is located approximately 3.5 miles northeast, adjacent to the Chicago Premium Outlets. The mall attracts more than 8 million visitors annually, according to Penn Entertainment.
That same month, the University of Pennsylvania and its majority owner, Gaming and Leisure Properties, Inc. (GLPI), agreed on financing terms for the Aurora physical development project. GLPI agreed to spend $225 million to move the Hollywood Aurora Casino inland. The riverboat currently floats on the Fox River. GLPI owns the physical assets of the Hollywood Aurora and leases the casino's operations to Penn.
Penn Entertainment will provide the remaining $135 million, with $50 million financed through bonds from the city of Aurora.
Our strong and long-standing relationship with the City of Aurora provides us with the opportunity to relocate our property to an ideal location that will significantly enhance our offerings and increase our positive economic impact on the community," Snow Den added.
The planned casino resort includes a casino floor with 1,200 slot machines, slot machines and gaming tables and chairs. The sportsbook retail outlet also features several bars and restaurants.
The hotel within the resort will feature 220 guest rooms, a full-service spa and 12,000 square feet of meeting and event space. Includes approximately 1,700 parking spaces.
The resort will create 700 permanent jobs, while construction is expected to create 700 temporary jobs, according to Penn Entertainment. The Hollywood Aurora Casino will continue to operate as a riverboat while the land destination is under construction.
Payne’s buying spree
Penn Entertainment's Hollywood Casino Aurora is part of its $850 million investment to renovate four casinos. In addition to Aurora, Penn is developing and expanding Hollywood Casino Columbus in Ohio, M Resort Las Vegas South in Henderson and Hollywood Joliere Casino in Illinois , and received financial support of US$575 million from GLPI.
In August, the University of Pennsylvania announced it would spend $1.5 billion to use the ESPN brand in its new sports betting operations. ESPN Bet sportsbook went live in 17 states earlier this month. Indiana is one of those 17 states. ESPN Bet recorded over 1.1 million downloads in its first week of operation.
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Source: www.casino.org
