Business

PENN Entertainment Hosts the Groundbreaking Ceremony for the New Hollywood Casino Joliet

The work on the new Hollywood Casino Joliet is about to begin! As PENN Entertainment, Inc. announced, the groundbreaking ceremony is scheduled for December 13 at 2 pm CT.

The new casino:

Until now, PENN operated the riverboat casino, but once the new facility is built and opened, the operations will be transferred to it. 

It is expected that the casino will cost about $185 million. Once finished, it will anchor RockRun Collection, the new regional commercial and residential center.

The new facility will be near the Interstate 80 and Interstate 55 interchange in Joliet, Illinois. Considering that about 230.000 vehicles pass that interchange on a daily basis, it’s no surprise that PENN chose this location for its newest facility.

Jay Snowden, PENN Entertainment’s CEO and President, said: “We are very excited to be moving forward with construction on a new, state-of-the-art Hollywood Casino Joliet in an ideal location. Our close proximity to two interstates and surrounding mixed-use development will offer our modern facility with exceptional visibility and accessibility in the highly attractive Chicagoland market.”

The casino will feature about 850 slots and 44 live table games. The fans of various forms of gambling will find something for themselves here, including baccarat, a retail sportsbook, and many more. There will also be other amenities, such as bars and restaurants, as well as a huge event center, which will be placed across 10.000 square feet. The casino will have about 1.330 parking spaces. 

PENN expects to provide 450 people with construction jobs and 515 people with permanent jobs at a new casino. This is 150 people more than is currently employed in the currently running Joliet facility.

Moving to the new location:

Back in 2019, a new law allowed the riverboat casinos to move onto the land. However, the old Hollywood Casino Joliet, currently located on the Des Plaines, will keep operating until the new, land-based casino is finished. It is expected that the construction work will take about 24 months.

Mike Thoma, Vice President & General Manager of Hollywood Casino Joliet, said: “From our day-one team members to the hundreds of individuals that will be joining us in the months ahead, this is an incredibly exciting milestone for all of us with the property and local community. We can’t wait to provide our guests with an even greater customer experience at the future Hollywood Casino Joliet.”

Many important names from the industry are invited to the groundbreaking ceremony, including the members of the Illinois Gaming Board, the Illinois General Assembly, the mayor, the City Council, and various local stakeholders and labor organizations.

The new casino is part of a huge project that will include casinos in Aurora, Illinois, Columbus, Ohio, as well as Henderson, Nevada. 

Related Posts

Jefferies cuts Britannia’s target price, maintains “Hold” rating; Find out why-

The broking firm Jefferies slashed the target price on the stock of Britannia by 0.9% to Rs 5,500 from Rs 5,550. The brokerage house has maintained the “Buy”…

Markets trade sideways! Sensex up 90 points, Nifty closes above 22,350, Volatility Index tanks close to 20%

The Indian equity indices on Tuesday closed marginally higher from its previous close. Sensex advanced 90 points or 0.12% to close the day’s trading at 73,738.45. The Nifty…

Rally likely to continue, Nifty at 23,000 next level to watch- Geojit Finance

By Anand James Intense volatility was witnessed midweek, at a level usually not seen around weekly expiry. This contrasted sharply against muted swings and range trading seen in…

OLA Electric IPO- From Zoya Akhtar to Paytm’s Vijay Shekhar Sharma, see who gains how much-

OLA Electric IPO will open for subscription on August 02 at a price band of Rs 72 to Rs 76 per equity share.  Film Director Zoya Akhtar along…

Rating- buy – Indigo- Firmly positioned for investors

We expect Indigo’s near-term financial performance will be impacted by two ongoing P&W (Pratt & Whitney) issues from FY2024-26 and high crude oil prices with the latter primarily…

Rupee falls 6 paise to 83.18 against USD amid strengthening US bond yields

The rupee dropped 6 paise to 83.18 (provisional) against the US dollar on Monday due to sharp losses in local stocks and US bond yields surging to 5…