A proposal to relocate Hollywood Casino’s Aurora location passed through a key committee vote on Tuesday, and will be evaluated by the full city council next week, officials said.
According to a press release, the Committee of the Whole did not raise any objections to PENN Entertainment’s proposal to relocate the casino to a location near Interstate 88, paving the way for the full city council to vote on the plan during its regularly-scheduled Oct. 25 meeting.
Officials say that PENN plans to move from its current downtown location on the Fox River to a location near the Interstate 88 expressway, across from Chicago Premium Outlets Mall. The deal would involve a land ownership transfer, with PENN acquiring the new site from the city in exchange for the downtown property where the current casino resides.
The new casino complex would include a 200-room hotel and a 10,000 square-foot event center, according to the city.
Officials say the proposal checks in at $360 million, and would include $50 million in bonds from the city. The bonds would be repaid through increased property taxes, and would not come from general funds, according to officials.
Construction is expected to begin in late 2023, creating 700 permanent jobs and up to 1,000 jobs during the construction process.
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