n n n ‘. concat(e. i18n. t(“search. voice. recognition_retry”),’n
WYOMISSING, Pa. and AURORA, Illinois, Nov. 28, 2023–(BUSINESS WIRE)–PENN Entertainment, Inc. (“PENN” or the “Company”) (Nasdaq: PENN) announced that it will host an innovative future ritual Hollywood Casino Aurora on November 29, 2023 at 2:45 p. m. CT. The logo for the new brick-and-mortar casino, hotel and entertainment facility will update the company’s nearby riverboat casino once it is completed.
The $360 million regional destination is being developed adjacent to the Chicago Premium Outlets, which attracts over eight million visitors annually, and is conveniently located near Interstate 88 in Aurora. The best-in-class facility will feature roughly 1,200 gaming positions, approximately 220 guest rooms, a retail sportsbook, outdoor entertainment area, full-service spa, high-quality bars and restaurants, an approximately 12,000 square foot event center with meeting areas and approximately 1,700 parking spaces. The Company expects to create 700 construction jobs and 700 permanent jobs at the new facility, nearly doubling the Company’s current team members in Aurora.
“We are thrilled to soon begin the structure of a new Hollywood Casino Aurora,” said Jay Snowden, CEO and President of PENN Entertainment. “Our wonderful and long-standing partnership with the City of Aurora has given us the opportunity to move our assets to a wonderful location. That will especially adorn our offerings and decorate our positive economic impact on the community. “
Aurora’s progression included the relocation of certain parcels of city land, and up to $50 million of the allocation will be funded through the city through a new bond issue. The move to the land was based on a law signed in 2019 allowing river casinos. to move to land. The existing Hollywood Casino Aurora, located on the Fox River in downtown Aurora, will conduct general operations while the new onshore facility is being built, which is expected to take approximately 24 months.
“We look forward to celebrating this milestone with our team members and the many key stakeholders who have helped us get to this point,” said Greg Moore, vice president and general manager of Hollywood Casino Aurora. “This is an exciting start to our next chapter, and we look forward to welcoming Chicagoans and visitors to the new Hollywood Casino Aurora upon completion. “
The company invited members of the Illinois Gaming Board, the Illinois General Assembly, Aurora’s mayor and city council, labor organizations and other local stakeholders to the ribbon-cutting ceremony.
The new Hollywood Casino Aurora is part of a previously announced plan that includes four new expansion projects in Joliet, Illinois; Columbus, Ohio; and Henderson, Nevada. Gaming and Leisure Properties, Inc. It has committed up to $575 million toward the total budget of $850 million for the 4 expansion projects.
About Hollywood Casino Aurora
Operated through PENN Entertainment, Hollywood Casino Aurora is on the Fox River, conveniently off Interstate 88, in Aurora, Illinois. Open Sunday through Thursday from 8:30 a. m. to 4:30 p. m. m. y on Fridays and Saturdays from 8:30 a. m. As of 6:30 p. m. , the 53,000-square-foot gaming facility features: more than 1,000 slot machines, more than 20 table games, plus a live poker room and a retail sportsbook. come with Fairbanks Steakhouse, Penalty Box Sportsbook
About PENN Entertainment
PENN Entertainment, Inc. , in combination with its subsidiaries (“PENN”, the “Company”, “we”, “us” or “our”), is the leading provider of embedded casino entertainment, sports content and gaming reports. in the north. America. Array PENN operates 43 homes in 20 states, online sports betting in 18 jurisdictions and iCasino in five jurisdictions, under a portfolio of identified brands including Hollywood Casino®, L’Auberge®, ESPN BET™ and theScore Bet Sportsbook and Casino ®. In August 2023, PENN entered into a transformative and exclusive long-term strategic alliance with ESPN, Inc. and ESPN Enterprises, Inc. (combined, “ESPN”) related to online sports betting in the United States. PENN’s ability to leverage leading sports media brands in the United States (ESPN) and Canada (theScore) will position us to particularly expand our virtual footprint and grow our visitor ecosystem. This highly differentiated strategy, focused on biological cross-selling opportunities, is enhanced through our market-leading retail casinos, sports media assets and technology, adding an iCasino and a fully proprietary sports betting system. Incorporated. platform and an internal iCasino content studio. The PENN portfolio is further strengthened through our industry-leading PENN Play™ visitor loyalty program, which provides our more than 27 million members with an exclusive set of rewards and reporting across all business channels.
Forward-Looking Statements
This press release comprises “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be understood by the use of forward-looking terminology such as “expects,” “believes,” “estimates. ” , “projects”, “intends”, “plans”, “objectives”, “seeks”, “may”, “shall”, “should” or “anticipates” or negative or other diversifications of those words or similar words, or through discussions about events, methods or long-term hazards and uncertainties. Specifically, forward-looking statements include, but are not limited to, statements regarding: the Company’s planned developments at the Hollywood Casinos Aurora, Joliet, Columbus and the M Resort Spa Casino, as well as the expected benefits and possible distressing situations of those developments. Projects; our ability to release financing for our progression projects on attractive terms; the timing, timing and expected effect of planned capital expenditures on the Company’s operations; the extent and timing of the Company’s progression, product and generation investments; the Company’s expectations regarding the effects and effects of the festival on retail/mobile/online sports betting, iCasino, social gaming and retail operations; the Company’s expectations related to its sports betting agreement with ESPN and the long-term good fortune of its products; the Company’s progression and launch of its interactive segment products in new jurisdictions and enhancements to existing interactive segment products, adding content on the ESPN BET and theScore Bet Sportsbook and Casino applications; and the movements of regulatory, legislative, executive or judicial decisions at the federal, state, provincial or local level with respect to our business and the effect of those movements.
All these statements are subject to risks, uncertainties and adjustments in cases that may also materially affect the long-term financial effects and operations of the Company. Accordingly, the Company cautions that forward-looking statements contained herein are qualified by vital points that may also cause actual effects to differ materially from those reflected in such statements. These points include: the effects of economic and market situations in the markets in which the Company operates; festival with other entertainment, sports content and casino gaming experiences; the timing, cost and expected effect of development, product and technology investments; risks similar to foreign operations, permits, licenses, financing, approvals and other contingencies similar to expansion into new or existing jurisdictions; collective bargaining activities and strikes; and other dangers and uncertainties described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, upcoming Quarterly Reports on Form 10-Q and Current Reports on Form 8 -K, each one as such. as filed with the United States Securities and Exchange Commission. The Company does not intend to publicly update any forward-looking statements unless required by law. Given these risks, uncertainties and assumptions, the forward-looking events discussed in this release may not occur.
View businesswire. com edition: https://www. businesswire. com/news/home/20231128952101/en/
Contacts
Jeff MorrisVice President, Public Affairs & Government RelationsPENN Entertainment, Inc. 610-373-2400Jessica GallenLaughlin Constable Relations publiquesJgallen@laughlin. com 312-995-8598