Summary
- Riverboat casinos in Aurora and Joliet will move to land.
- Hollywood Columbus in Ohio will add a new hotel.
- A second hotel tower is coming to M Resort in Nevada.
PENN Entertainment recently announced big plans for its operations in the United States. The gaming company will be moving two riverboat casinos in Illinois to land as well as adding a hotel in Ohio.
A casino in Nevada will receive a new hotel tower. All of these chances should help the company to see even greater success in the industry.
Illinois Projects to Move Riverboats to Land
It seems the new trend in casino gaming is to move older riverboat casinos to land. Companies like PENN have been given the greenlight by gaming regulators to transfer a license to a land-based facility instead of remaining on the water.
For the Aurora casino, the company plans to create a new land-based venue and hotel next to the Chicago Premium Outlets mall. This property would replace the Hollywood Casino Aurora. The cost of this project should come in around $360 million. It will include 900 slots, and 50 table games, plus a sportsbook operated by Barstool.
In Joliet, the company has plans to create a casino with the Rock Run Crossing project. This location is near the Hollywood Casino Joliet riverboat. The price tag for this would be much lower at around $185 million and will include a casino and Barstool sportsbook as well.
New Hotels coming to Ohio and Nevada
PENN also has plans to add hotels to existing venues in Ohio and Nevada. Casinos do well with a hotel addition since it allows players to stay for longer periods of time. In Ohio, the Hollywood Columbus will add a hotel for around $100 million.
The property should include 180 guest rooms along with dining and drink options. The hotel will be next to the casino and offer overnight stays to gambling guests. A total of 100 permanent jobs should be created once the venue is complete. After regulatory approvals, PENN should begin construction next year.
In Nevada, the gambling operator has plans to create a second hotel tower in Henderson. It’s M Resort is located in the area and needs more guest space. The project should cost just over $200 million and would add 384 guest rooms. The hotel will also include meeting space and updated amenities.
According to PENN Officials, the overall estimated budget for the changes is $850 million. Financing from GLPI will cover as much as $575 million of the project costs. It will be interesting to see these projects get off the ground and if they help the company’s bottom line within the gambling industry.
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