Hollywood Casino Columbus to Break Ground on 180-Room Hotel
Hollywood Casino Cristobal Colon testament break ground on its hotel on Tuesday, November 28, followers a ceremony at 1 p.m. ET.
Penn Entertainment’s Columbus landlord is disbursal $100 gazillion to get a 180-room hotel to its Hollywood Casino. The gambling casino opened in 2012, quaternary years after Ohioans passed a statewide ballot referendum that legalized commercial message casinos in the state’s tetrad largest cities.
We are thrilled to soon begin expression on a state-of-the-art hotel at Hollywood Casino Columbus,” said Jay Snowden, CEO and chair of PENN Entertainment. “Since chess opening in 2012, our Christopher Columbus dimension has experient tremendous growth, and the add-on of a hotel at Hollywood Casino Columbus testament create a admittedly regional destination.”
Hollywood Casino Cristobal Colon is the largest of the foursome casinos, with the other gaming floors located inwards Cleveland, Cincinnati, and Toledo. Once the hotel is completed, Hollywood Casino Columbus will make the distinction of beingness the number one gambling casino to hold an on-premise hotel.
Casino Becoming Resort
Penn Entertainment’s in public traded tangible demesne investment trust, Gaming and Leisure Properties, Inc. (GLPI), owns the physical assets of Hollywood Casino Cristobal Colon and leases the casino’s trading operations to its controlling stakeholder.
GLPI supercharged William Penn Entertainment $284.1 meg for the managerial rights to Hollywood Columbus and sextet other casinos this year. The yearly lease increases 1.5% a twelvemonth through 2033.
When GLPI and William Penn renegotiated their captain letting in Oct 2022, the property owner in agreement(p) to clothe upwards to $225 billion for the relocation of the Hollywood Casino Aurora riverboat inward Illinois to a new land-based facility. The existent acres swear also agreed to set by $350 billion for the inland run for Hollywood Casino Joliet, another IL riverboat, and for the mental synthesis of unexampled hotels at Hollywood Casino Columbus and m Resort inward Nevada.
Along with the 180 guestrooms, GLPI’s $100 zillion project inward Cristobal Colon includes coming together blank space and an additional restaurant. Penn Entertainment didn’t delimitate a timeline for completion, but said the hotel will ensue inwards the creative activity of 100 young permanent positions. Construction is expected to make “hundreds” of temporary jobs.
“We can’t waitress to lead off hiring new team up members and welcoming to a greater extent visitors from around the region to showcase our young hotel and the fervour of Hollywood Casino Columbus,” said Rick Skinner, vice chair and full general manager of Hollywood Casino Columbus.
Market Leader
Hollywood Casino Christopher Columbus was the upside cassino inwards Buckeye State cobbler's last twelvemonth with 144 gaming revenue (GGR) of close to $263.6 million. That narrowly edged Jack Grover Cleveland at $262.3 million.
The state’s Little Joe casinos, with Hard Rock Cincinnati and Hollywood Casino Toledo being the other 2 properties, combined to win a minuscule more than $1 one million million finally year, substance the Cristoforo Colombo gambling casino held a 26.2% market place share.
Hollywood Casino Columbus has extended its marketplace bet in 2023. Through September, Buckeye State casino revenue totaled $763.4 million. The Columbus gambling casino accounted for rough $204.9 zillion or 26.8% of the nation cassino industry.
Hollywood Columbus offers 1,622 expansion slot machines, 88 table games, and a sportsbook. The sports betting place is undergoing a exchange from Barstool to ESPN Bet after Penn this summer folded on its Barstool ownership inward favor of entering into a 10-year branding trade with ESPN for its sports betting business.
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