Aurora Mayor Richard Irvin praised the construction progress of the new Hollywood Casino Aurora, marking the occasion with high praise for the project’s timely development. “This progress is amazing,” Irvin said Tuesday, while addressing laborers, construction executives, and city officials. The $360 million complex is being built on the west side of Farnsworth Avenue, and is set to open in the first half of 2026.
The project, which includes a casino, a seven-story hotel, a 12,000-square-foot event space, and a sports betting facility, remains on time and on budget. During the event, Irvin applauded the efforts of the workers, and highlighted the three cranes visible behind him, signaling the substantial progress made. “Keep those hands going (applause) for cranes in the air!” he stated.
Craig Melby, co-founder of Viking Bros., one of the construction companies involved, shared the mayor’s enthusiasm, describing the project as “magnificent,” reports Daily Herald. Greg Moore, vice president and general manager of Hollywood Casino Aurora, also commended the rapid development: “I think you can see how much work the men and women of Aurora have been able to get done in just a few short months.”
Penn Entertainment, the casino’s developer, and the City of Aurora have been partners in the project since breaking ground in November last year. The city is lending up to $50 million to Penn Entertainment and has provided $8 million worth of city-owned land for the site. The city council previously approved $58 million in general obligation bonds to help fund the loan and the demolition of the current casino downtown.
The redevelopment agreement between the city and Penn Entertainment includes a tax-increment financing (TIF) district. Increased property taxes generated by the new casino are expected to pay for the bonds, with the developer covering any shortfall.
Opened in 1993, Hollywood Casino Aurora has seen a decline in revenue as more gambling venues have emerged in the region. The new complex is aimed at revitalizing the city’s gaming sector, with the new hotel set to be the tallest building constructed in Aurora since 1974.
Original article: https://www.yogonet.com/international/noticias/2024/10/23/82879-illinois-new-hollywood-casino-aurora-on-track-for-2026-opening-mayor-applauds-progress
