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Alex Harper • Oct 28, 2026 Players lose nothing here. Hollywood Casino Joliet relocated to a bigger building on dry land in August 2025, roughly four miles away. This guide explains the deal, why the land went quiet, and what to watch for next.
What’s in GLPI’s Hollywood Casino Joliet Land Deal
Prologis, the world’s biggest owner of logistics property, takes the lead role here. In a joint venture, two companies co-own a project while one of them steers it. Specifically, Prologis will handle the building work and the day-to-day decisions.
| Deal Point | Details |
| Address | 777 Hollywood Boulevard, Joliet |
| Acreage | 262 acres |
| What gets built | Five modern warehouses for storing and shipping goods |
| Total floor space | Over 3.8M sq ft |
| GLPI’s job | Hands over its acreage in three stages |
| Prologis’s job | Leads construction and runs the venture |
| Build time | Roughly five years, and Prologis decides later on the final two stages |
| Approval | Joliet’s city government still has to sign off |
| Price | Not made public |
Class A is the top grade of warehouse, with tall ceilings and modern loading docks. The land sits close to two big rail yards and the I-80 and I-55 highways. Also, most parcels already carry industrial zoning, the property’s sales listing shows.
Why Hollywood Casino Joliet Left the River
Penn Entertainment runs the casino, and it simply outgrew the river. The business opened in 1992 under the Empress name, as a riverboat moored along the Des Plaines. For years, state law required Illinois casinos to sit on the water.
Then the state’s 2019 Illinois gambling expansion let riverboat operators build on land instead. Consequently, Penn put $185 million into a new venue at Joliet’s Rock Run Collection, a shopping and housing district. Its last day on the water came in late July 2025, and the new doors opened 13 days later.
Notably, GLPI owns the property under both casinos. It also supplied $130 million to pay for the move. However, Penn finished clearing out of the old site by September 2025, leaving GLPI with 262 acres and no tenant.
Hollywood Casino Joliet: Then vs Now
Here’s how the two Joliet locations stack up in 2026.
| Feature | Old River Site | Today’s Casino |
| Setting | Des Plaines River | Rock Run Collection, by I-80 and I-55 |
| Format | Riverboat | Built on land |
| Status | Gaming ended July 2025 | Open since August 2025 |
| Landowner | GLPI | GLPI |
| Gaming | None | 43 tables and roughly 1,000 slots at opening, plus a sportsbook |
| Next use | Warehouses and shipping | Gaming, food, and live events |
Why GLPI Is Branching Out of Gaming
Gaming and Leisure Properties, or GLPI, works as a REIT, short for real estate investment trust. REITs collect rent and must return 90% or more of their taxable income to investors. For example, GLPI rents its casino buildings to operators such as Penn and Bally’s.
Most of those agreements are triple-net leases. Under that setup, the tenant covers property tax, insurance, and repairs. GLPI’s roster spans 71 gaming properties in 21 states, and 50 belong to Penn or Bally’s.
Leaning that hard on two tenants makes some shareholders uneasy. Therefore, warehouse income gives GLPI a cushion that doesn’t depend on casinos.
Similarly, rival casino landlord VICI Properties has already spread into other sectors. Earlier casino real estate investments in Nevada worked differently, with operators splitting off land to raise money.
What the Deal Means for Illinois Casino Players
Illinois gamblers keep every option they had before. Hollywood Casino Joliet just traded the river for a roomier building with quicker highway access. Anyone still holding riverboat chips had until December 31, 2025, to swap them for cash at the relocated casino.
Meanwhile, Illinois has added casinos since 2019 as riverboats move ashore and new licenses open up. If you want to check what’s legal, our breakdown of Illinois gambling laws covers sports betting and casino rules. Every new venue also needs a green light under Illinois Gaming Board licensing rules before it opens.
What Comes Next for the Riverboat Land
Joliet’s city leaders must approve the plan before crews break ground. From there, the partners see the job stretching across roughly five years. Prologis can decide later whether to build the last two stages.
First, crews will likely clear away the old structures Hollywood Casino Joliet used on the river. Additionally, investors want to see how much GLPI spends and what the park pays back. Until those figures surface, nobody can fully judge the deal.
The Bottom Line
GLPI’s tie-up with Prologis turns the empty riverboat land once used by Hollywood Casino Joliet into a freight hub. It’s also the casino landlord’s first step outside gaming. Our land-based casino news section will track the project as Joliet reviews the plan.
