The Aurora development will include the transfer of certain parcels of land from the city, and up to $50 million of the project will be funded by the city through a new bond issuance, all of which is subject to final approval by the Aurora City Council. “Our plan for Aurora is to construct a modern, best-in-class casino and hotel in an ideal location off I-88 that will allow us to serve the millions of visitors to the adjacent Simon Premium Outlet Mall,” said Mr. Thanks to the support of our local community leaders, in particular the visionary leadership of Mayor Richard Irvin and his staff in Aurora, we are very excited to be moving forward with these projects,” said Mr. “Since the change in law to permit land-side casino relocation in Illinois, we have been exploring the viability of relocating our aging riverboats in Aurora and Joliet. Our casino properties remain at the core of our omni-channel approach to entertainment, which combines best-in-class retail operations and a database of more than 26 million m圜hoice members with a rapidly growing interactive and media footprint. Jay Snowden, Chief Executive Officer and President of PENN Entertainment, commented: “We are delighted to announce these exciting new growth projects, which we expect will generate strong free cash flow returns and create long-term value for our shareholders. (“PENN” or the “Company”) (Nasdaq: PENN) announced today that it intends to relocate its riverboat casinos in Aurora and Joliet, Illinois to new land-based facilities and to build a new hotel at Hollywood Columbus in Ohio and a second hotel tower at the M Resort in Henderson, Nevada.

Company to Amend Master Lease with Gaming and Leisure Properties to Facilitate and Fund up to $575 Million of the Approximately $850 Million Overall Project Budget

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