The company behind two riverboat casinos in Aurora and Joliet announced Tuesday that they intend on relocating to land-based facilities.

PENN Entertainment intends to move Hollywood Casino Aurora to a new $360 million development on Farnsworth Avenue — which would be on the land of the former Motel 6 and Fox Valley Inn.

According to PENN, the new development is expected to include the following.

  • Casino with approximately 900 slots, 50 live table games and a sportsbook.
  • Hotel with approximately 200 hotel rooms.
  • 10,000 square foot event center with a spa, bars and restaurants.

PENN said up to $50 million of the project will be funded by the city through a new bond issuance, which will be subject to final approval by city council.

PENN’s initial presentation to the city council’s finance committee will take place Thursday afternoon at 3 p.m.

Construction of the new property is expected to begin in late 2023, subject to city and regulatory approval.

PENN said they intend to move Hollywood Casino Joliet to Rock Run Crossings, which is a development being built near I-55 and I-80.

The construction of the casino is expected to begin in late 2023, subject to local approval.

“The city has worked closely with Hollywood Casino and Cullinan Properties to enable the casino to stay within the area as well as be a catalyst for the region’s exciting new mixed-use development, Rock Run Crossings,” said Mayor Bob O’Dekirk.

The casino project has an estimated budget of $185 million.