Penn Replacing Riverboats With Land-Based Illinois Casinos In Aurora And Joliet

Penn Entertainment has declared that its riverboat casinos in Joliet and Aurora, Illinois are being moved to new facilities on land.

“Ever since Illinois law changed to allow land-side casino relocation, we’ve been investigating the feasibility of moving our old riverboats in Aurora and Joliet,” said Jay Snowden, CEO and President of Penn Entertainment in a press release. He added, “We’re thrilled to progress with these projects, largely due to the support from our local community leaders. We’re particularly grateful for the forward-thinking leadership of Mayor Richard Irvin and his team in Aurora.”

Illinois casino in Aurora to be built near outlet mall, cost $360 million

Penn specifically plans to construct a new Aurora casino and hotel adjacent to the Chicago Premium Outlets mall. The location is close to Exit 119 off I-88. Subject to city and regulatory approval, construction on the site is set to commence in late 2023.

The project, valued at $360 million, will encompass:

• 900 slots
• 50 live table games are available, including a baccarat room and a poker room.
• Barstool sportsbook has the capacity to accommodate popular Barstool personalities.
• 200 hotel rooms
• full-service spa
• bars and restaurants
• Meet areas encompassing 10,000 square feet
• event centre

Snowden said, “We aim to build a top-notch casino and hotel in Aurora at a prime location off I-88, which will enable us to cater to the millions of visitors who frequent the neighboring Simon Premium Outlet Mall, as part of our plan.”

Furthermore, the Aurora development plan involves the city transferring certain land parcels and funding up to $50 million of the project through a new bond issuance. However, all these arrangements are contingent upon the final approval of the Aurora City Council.

New Joliet casino to cost $185 million

Additionally, the new casino in Joliet is projected to cost around $185 million. This casino will be housed in the Rock Run Crossings development project. Located next to the interchange of I-80 and I-55, and several miles from the existing Hollywood Casino Joliet riverboat property, Rock Run Crossings is intended to replace the latter. However, it will not include a hotel.

Construction on the new Joliet facility is set to begin in late 2023, just like the new Aurora casino. However, this is subject to city and regulatory approval.

The upcoming casino in Joliet will feature:

• 800 slots
• 45 live table games are available, including a room for baccarat and a poker room.
• Barstool sportsbook
• bars and restaurants
• 10,000 square feet of meeting areas
• event centre

Snowden stated, “Our planned casino in Joliet will be situated in the Rock Run Crossings development mixed use project, closely located to the I-80 and I-55 interchange. This location offers outstanding visibility and accessibility.”

The two projects will notably enhance our services in the appealing Chicagoland market and generate hundreds of full-time employment opportunities for the local communities.

Snowden also stated that Penn anticipates these projects to generate substantial free cash flow returns and enhance long-term value for their shareholders.