Aurora city council votes to contribute $50 million for relocating Hollywood Casino

Aurora city council votes to contribute  million for relocating Hollywood Casino

https://www.hollywoodcasinoaurora.com

Aurora city council voted last week to relocate and expand the Hollywood casino and contribute $50 million to help build the region’s first casino resort. The city said the project will create about 1,000 construction jobs and 700 permanent jobs.

The plan calls for the Hollywood Casino Aurora will move from its current location on the Fox River downtown – where it has been located since it opened in 1993 – to a site closer to the Reagan Memorial Tollway (I-88), across from the Chicago Premium Outlets Mall.

The new casino resort would include a 200 room hotel and a 10,000-square-foot event center.

The city-owned site on Farnsworth Avenue was most recently occupied by two hotels and a car dealership. In exchange for the land, Penn Entertainment agreed to invest $300 million in the new project and transfer the property the casino currently sits on to the city, along with two parking garages.

“The light is shining a little brighter – a whole lot brighter – in the city of Aurora,” Mayor Richard Irvin said after the vote.

A $50 million bond issuance was approved by the city to assist with the $360 million project.

Penn Entertainment plans to demolish the current casino. Construction will begin in 2023.

 

Source: www.chicagoconstructionnews.com

Senior writer at the Chicago Morning Star

Related Posts
Chicago to have casino-resort; selection process is on
In order to develop a world-class experience in the City of Chicago that will push
Rockford City Council votes 11-1 to certify casino proposal
The Rockford Chamber of Commerce and Rockford Area Economic Development Council (RAEDC) have been advocating
Onerous tax and fee structure make Chicago Gambling casino ‘Not Feasible’
The General Assembly has authorized the casino gambling in Chicago. The onerous tax and fee
Chicago’s mayor selects five possible casino locations
Chicago’s Mayor Lori Lightfoot has floats five sites as possible locations for a casino in
Father and two small kids are among the 5 people killed when a truck transporting anhydrous ammonia crashes
Five more people are still in the hospital. When the semi-truck started spilling the potentially
UAW extends strike to factories in Chicago and Michigan
According to UAW President Shawn Fain on Friday, the United Auto Workers (UAW) union will
Communities in Chicago are tense due to the city’s intersecting housing issues
Mayor Brandon Johnson has had to deal with two housing issues simultaneously during his first
Chicago’s new apartment building drops
A new study predicts that 6,160 new apartment units will be constructed in Chicago this
Chicago is getting closer to eliminating tip pay
In Chicago, servers who depend mostly on gratuities may disappear by the end of the
As emotions grow, Democrats will debate in the New Hampshire primary
In the midst of an internal party conflict that has heightened tensions between members and