Hollywood Casino Aurora has announced its intention to move out of downtown and move to a location near the Interstate 88 interchange with Farnsworth Avenue in the city.
Officials from Penn Entertainment Inc., owners of Hollywood Casino, made the announcement Monday on its website, announcing that it would build a casino and hotel with approximately 900 slot machines, 50 live table games, a Barstool Sportsbook and approximately 200 hotel rooms in the new Aurora. site.
The property would also feature a full-service spa, bars and restaurants, approximately 10,000 square feet of meeting space and an event center.
According to Penn, the project would have an estimated budget of $360 million, and would be adjacent to the Chicago Premium Outlets mall, just off the I-88 interchange.
The development would take place on land the town bought along Farnsworth several years ago, including two hotels the town has demolished.
Penn’s announcement said the deal would mean handing over land to the city. It also said the city would contribute about $50 million to the project, raised by issuing bonds.
The city itself has not announced the plans, although Clayton Muhammad, Aurora’s chief communications and equity officer, released a statement stating that a full presentation of the redevelopment deal between the city and Penn Entertainment would take place at the City Council’s meeting of the financial authorities. committee on Thursday at 3 p.m. in City Hall Council Chambers, 44 E. Downer Place.
That would be the start of the city council process. Any redevelopment agreement requires city council approval.
“The proposed plans represent one of the most significant investments in economic development in Aurora’s history,” Mohammed said.
In an interview with The Beacon-News several weeks ago, Aurora’s mayor, Richard Irvin, said the pending deal would include all city land, along both Farnsworth and Bilter. He said it would encompass an entire entertainment area in the area. The casino would be located on the site along Farnsworth where the two hotels once stood.
He said the move is by the casino and the investment by the city so that the city can better take advantage of the approximately eight million people who visit the outlet mall each year.
“It will change the face of the city of Aurora,” Irvin said.
“Our plan for Aurora is to build a modern, best-in-class casino and hotel in an ideal location off I-88 to serve the millions of visitors to the adjacent Simon Premium Outlet Mall,” said Jay Snowden, Penn Entertainment chief executive officer and president.
He said construction on the new property is expected to begin in late 2023, subject to approval by the city and regulatory authorities.
In addition to announcing Aurora’s move, Penn Entertainment also announced it would move its downtown Joliet casino to the Rock Run Crossings development near the Interstate 80 and Interstate 55 interchange.
“These two projects will significantly enhance our offerings in the highly attractive Chicagoland market while creating hundreds of new full-time jobs for the local communities,” Snowden said.
Beacon-News reporter Megan Jones contributed to this article.
slord@tribpub.com
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