The construction of the Hollywood Casino in Aurora, Illinois, is going well.
Almost a year after construction began, Aurora Mayor Richard Irvin shared his approval of the new Hollywood Casino Aurora's progress.
"The progress is amazing," Irvin told The Daily Herald. He also shared his sentiment with construction workers and their supervisors. The mayor praised the project for being on track and within budget and applauded the workers for their excellent craftsmanship.
New Hollywood Casino Replacing Old One
The Hollywood Casino Aurora first opened in downtown Aurora in 1993, when state law allowed riverboat gambling. However, as more gambling locations like Rivers Casino in Des Plaines and various video gambling businesses opened throughout the suburbs, revenue declined.
To revitalize the casino, it is being relocated from its original spot on the Fox River downtown to a new site on Farnsworth Avenue. This new location was previously home to two hotels and a car dealership.
The new $360 million complex, owned by PENN Entertainment, will feature a casino and hotel with 200 rooms, 1,200 gaming positions, a 12,000-square-foot event space, and a sports betting facility. The swap deal involves PENN Entertainment taking over the new site while giving up the current casino property.
Once it’s finished, Irvin said the hotel building will be the tallest constructed in the city since 1974.
City Had to Change Law to Keep Casino
According to the Hollywood Casino website, the City of Aurora played a key role in changing the laws so the casino could move to a different spot within the city. They also helped remove the rule that casinos had to be on water.
Because of this, the casino—and the jobs, tax money, and other benefits it brings—were allowed to stay in Aurora.
Not Everyone Was On Board With The Move
When the deal to move the casino was reached, which was unanimously approved by Aurora’s city council, some residents did not agree with the decision.
That’s because the plan to pay for the new casino includes a $50 million bond and $8 million worth of city-owned land. The city has stated that it will repay this bond using increased property taxes from the new casino site, instead of using general taxpayer funds.
In February, the city council decided to sell $58 million in general-obligation bonds to support this loan and to pay for tearing down the current downtown casino.
If the property taxes are insufficient in any year, PENN has promised to cover the shortfall, according to the city.
But some taxpayers are unhappy with the city's contribution, especially since the casino owners earned $75 million from their 30-year-old Aurora riverfront casino last year. They feel the plan should have been voted on by the people who live in Aurora.
Mayor Irvin emphasizes that the city council's vote and the construction of the new casino pave the way for the future of Illinois' second-largest city.
Penn Entertainment Adding to Its Offerings
With the Aurora casino, Penn Entertainment now operates more than 40 casinos and racetracks in the United States, including over 30 Hollywood Casino locations.
The Hollywood Casino brand also offers real money slots and table games that you can play on your devices, just like you would in a real casino. It's known for providing an authentic and enjoyable experience. They also offer sports betting.
Construction on the new Hollywood Casino Aurora is expected to be completed by the middle of next year.
