PENN Entertainment closes its Hollywood Casino Aurora riverboat on 10 June and opens a $360m land-based resort on 24 June, ending 33 years of floating casino operations on the Fox River and executing the same transition it completed in Joliet last summer.
Illinois’ Riverboat-to-Land Pivot
The Aurora project is PENN’s second land-based conversion in Illinois under the state’s 2019 gambling expansion legislation, which allowed riverboat operators to relocate inland. PENN invested $185m in a land-based Hollywood Casino Joliet, which opened in August 2025. Illinois Gaming Board data for March 2026 shows Joliet’s adjusted gross receipts up 56% year-on-year to $12.4m, the first comparable period against its pre-transition performance.
The Aurora riverboat dates to 1993, one of Illinois’ original licensed gambling properties. The Stolp Island site in downtown Aurora will be demolished following the closure, with the land returned to the city for future development. Rivers Casino Des Plaines made the same riverboat-to-land move in 2020 and has since held the top position in the state market, posting $44.6m in revenue in March 2026.
Property Specifications
The new Hollywood Casino Aurora is located at 2500 N. Farnsworth Avenue, adjacent to the Chicago Premium Outlets near Interstate 88, approximately 3.5 miles northeast of the riverboat site. The gaming floor has over 1,200 positions, a dedicated baccarat room, and a retail sportsbook. The resort adds a 226-room hotel, Drift Spa, a 12,000-square-foot event centre, outdoor entertainment area, and approximately 1,700 parking spaces.
Dining partnerships include Sorella by Giada with chef Giada De Laurentiis and the Boulevard Food & Drink Hall. The Aurora City Council approved a dedicated entertainment district permitting drinks to be carried throughout the resort.
“Our new location is ideally situated to welcome guests to enjoy a broad array of entertainment and dining experiences in the region,” said Rafael Verde, Senior Vice President of Operations at PENN Entertainment.
Capital Structure
The $360m project divides across three funding sources. PENN’s real estate investment trust partner Gaming and Leisure Properties (GLPI) is contributing $225m at a 7.75% capitalisation rate. The City of Aurora is contributing $50m, of which $29m has been paid and the $21m balance is expected before year-end. PENN is covering the remaining $114m.
The city also donated the development site, valued at approximately $8m. Repayment on the $50m contribution is structured through a 23-year tax increment financing district on the new casino land, with the Aurora City Council approving final plans and zoning 10-1. City officials project the developed site will generate $5.5m annually in property taxes, on top of increased gaming, hotel, and sales tax receipts.
“Our Aurora riverboat has created thousands of memorable experiences and supported economic development throughout the city for over three decades, and we look forward to replicating these successes for years to come,” said Jay Snowden, CEO and President of PENN Entertainment.
Workforce and Customer Transition
PENN expects to employ approximately 700 team members at the new property, close to double its current Aurora headcount. The construction phase generated a further 700 temporary jobs, with PENN partnering with local unions and minority-, women-, and veteran-owned businesses during the build.
PENN Play loyalty programme members are being directed to Hollywood Casino Joliet and Ameristar East Chicago during the two-week gap between the riverboat closure and the resort opening. Unused chips from the riverboat can be redeemed at the new casino’s cage through 31 December 2026.
A Tightening Chicagoland Market
The Aurora opening arrives into an expanding competitive field. Bally’s Chicago is developing a $1.7bn permanent casino complex targeted for late 2026, and Full House Resorts is targeting a 2027 opening for American Place in Waukegan. Both projects will add significant capacity to a market that generated $183.1m in total commercial casino revenue in March 2026, up 7.1% year-on-year, according to Illinois Gaming Board data.
PENN’s three Illinois properties combined — Aurora, Joliet, and Argosy Casino Alton — generated $239.8m in GGR in 2025. Whether the Aurora rebuild replicates Joliet’s post-transition revenue trajectory will be the key measure of the $360m investment, at a time when North American casino operators are broadly reporting record revenues heading into 2026.
Source: PENN Entertainment
