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Penn Entertainment to Launch $185M Casino in Joliet, Illinois: Analysts Predict 15.49% Upside
ByAinvest
Thursday, Jul 24, 2025 7:38 am ET1min read
Penn Entertainment is set to launch a $185 million land-based casino in Joliet, Illinois, replacing its existing riverboat facility. Analysts predict an average price target of $21.67, with a potential upside of 15.49%. The GF Value for PENN Entertainment indicates a 36.03% potential upside. The new casino will feature 1,000 slot machines, 43 table games, and an ESPN BET sportsbook.
Penn Entertainment, Inc. has announced plans to close its Hollywood Casino Joliet riverboat property on July 29, 2025, and replace it with a new, $185 million land-based casino. The new facility is set to open on August 11, 2025, pending customary regulatory approvals [1].The new Hollywood Casino Joliet will be located at 1401 Gateway Blvd., Joliet, Illinois, within the Rock Run Collection, a super-regional commercial and residential development conveniently situated adjacent to the Interstate 80 and Interstate 55 interchange southwest of downtown Chicago. The new casino will feature approximately 1,000 slots and 43 live table games, including an ESPN BET sportsbook, and several new restaurants and bars [1].
The existing riverboat property, which has been in operation since 1992, will cease operations at 5:59am CDT on July 29, 2025. Gaming operations will maintain their normal operating hours until the closure. The hotel adjacent to the casino property will accept reservations until July 26 [1].
Analysts have predicted an average price target of $21.67 for Penn Entertainment, with a potential upside of 15.49%. The GF Value for PENN Entertainment indicates a 36.03% potential upside [2].
The new facility is expected to improve Penn Entertainment's offerings in the highly attractive Chicagoland market, providing both existing customers and new guests with premier gaming, dining, and entertainment options. The development is part of a broader strategy by Penn Entertainment to enhance its portfolio of properties [2].
References:
[1] https://www.marketscreener.com/news/penn-entertainment-inc-to-close-hollywood-casino-joliet-riverboat-location-on-july-29-ahead-of-new-ce7c5cd2df88f427
[2] https://seekingalpha.com/news/4470671-penn-entertainment-bets-on-new-land-based-casino
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