New Land-Based Entertainment Destination Includes an Upscale Hotel, Event Center and World-Class Dining Experiences

PENN Entertainment, Inc. ("PENN" or the "Company") (NASDAQ:PENN) announced today that it expects to open the new land-based Hollywood Casino Aurora to the public on Wednesday, June 24, pending customary regulatory approvals. This will be the second all-new PENN property to open in the Chicagoland region following the grand opening of the land-based Hollywood Casino Joliet in August 2025.

The new $360 million entertainment destination is being developed across from Chicago Premium Outlets, located near Interstate-88 in Aurora. The state-of-the-art property will feature a luxurious hotel, more than 1,200 gaming positions, a retail sportsbook, outdoor entertainment area, full-service spa, premium bars and restaurants, a 12,000 square foot event center and approximately 1,700 parking spaces. The Company expects to employ approximately 700 team members at the new casino, which nearly doubles PENN's existing employee roster in Aurora.

"We are now months away from opening another premium entertainment destination in the greater Chicago region," said Jay Snowden, CEO and President of PENN Entertainment. "We are thrilled to follow the successful rollout of Hollywood Casino Joliet last summer with another new land-based property, strengthening our overall retail portfolio in the Midwest and deepening our roots in the community."

Hollywood Casino Aurora will feature an upscale 226-room hotel offering a variety of standard rooms and suites, as well as a beauty and wellness space, Drift Spa.

The new property will also be outfitted with numerous world class dining experiences for guests to enjoy. As previously announced, PENN has partnered with celebrity chef and entrepreneur Giada De Laurentiis to open Sorella by Giada. The Italian-California fusion restaurant will offer approximately 170 seats for indoor and outdoor dining, a contemporary bar and private dining options.

Boulevard Food & Drink Hall, operated by McClain Camarota Hospitality ("MCH"), will include Lucky Goat by celebrity chef Stephanie Izard; Five50 Pizza, a pizza concept from the renowned chefs at MCH; and Chicago favorites Antique Taco and Pretty Cool Ice Cream. Additional restaurant partners that will be unique to Aurora's Boulevard Food & Drink Hall will be announced in the coming weeks.

"These popular restaurateurs will provide our customers with amazing dining options at the new Hollywood Casino Aurora," said Rafael Verde, Senior Vice President of Regional Operations, PENN Entertainment. "Together with our hotel, event center, spa and additional amenities, patrons will experience a vibrant atmosphere at this new area attraction."

The 12,000 square foot event center will be equipped to host a variety of events, including meetings, conferences, weddings, galas, entertainment and more. Entertainment bookings are already underway, and the first public events will be announced soon.

Additional details related to the grand opening of the new casino will be provided in advance of June 24. The Company expects to work with the Illinois Gaming Board on the transfer of operations from the existing Hollywood Casino Aurora, which is located on the Fox River in downtown Aurora, to the new landside facility as the opening date nears.

In conjunction with this $360 million project, PENN expects to receive $225 million in funding from Gaming and Leisure Properties, Inc. near the project's opening, at a 7.75% capitalization rate. By the end of the year, the Company also expects to receive the remaining $21 million of the $50 million in funding being contributed by the City of Aurora by year end.

About Hollywood Casino Aurora

The new Hollywood Casino Aurora, expected to open on June 24, 2026, is being developed adjacent to the Chicago Premium Outlets, located near Interstate 88 in Aurora. The best-in-class facility will feature roughly 1,200 gaming positions, a premium hotel with 226 rooms, a retail sportsbook, outdoor entertainment area, full-service spa, high-quality bars and restaurants including Sorella by Giada, an approximately 12,000 square foot event center with meeting areas and approximately 1,700 parking spaces. PENN Entertainment, Inc. expects to employ approximately 700 team members at the new casino, which nearly doubles PENN's existing employee roster in Aurora. Hollywood Casino Aurora is currently on the Fox River, located near Interstate 88, in Aurora, Illinois. For more information, visit: www.hollywoodcasinoaurora.com.

About PENN Entertainment, Inc.

PENN Entertainment, Inc., together with its subsidiaries ("PENN," or the "Company," "we," "our," or "us"), operates in 27 jurisdictions throughout North America, with a broadly diversified portfolio of casinos, racetracks, and online sports betting and iCasino offerings. PENN's focus is on organic cross-sell opportunities, reinforced by its market-leading retail casinos, sports media assets and technology, including a proprietary state-of-the-art, fully integrated digital sports betting and iCasino platform, and an in-house iCasino content studio. The Company's portfolio is further bolstered by its industry-leading PENN Play™ customer loyalty program, offering its over 33 million members a unique set of rewards and experiences.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "expects," "believes," "estimates," "projects," "intends," "plans," "goal," "seeks," "may," "will," "should," "look forward to," or "anticipates" or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. These statements are based upon management's current expectations, assumptions and estimates and are not guarantees of timing, future results, or performance. Therefore, you should not rely on any of these forward-looking statements as predictions of future events. Actual results may differ materially from those contemplated in these statements due to a variety of risks, uncertainties and other factors, including those factors described in PENN Entertainment's filings with the Securities and Exchange Commission (the "SEC"), including PENN Entertainment's current reports on Form 8-K, quarterly reports on Form 10-Q and its annual report on Form 10-K for the year ended December 31, 2025. Forward-looking statements speak only as of the date they are made and, except for PENN Entertainment's ongoing obligations under the U.S. federal securities laws, PENN Entertainment undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260319461801/en/

Media Contact:

Jeff Morris

VP, Public Affairs

PENN Entertainment, Inc.

jeff.morris@pennentertainment.com

610/373-2400

Mike Nieves

SVP, Finance & Treasurer

PENN Entertainment, Inc.

mike.nieves@pennentertainment.com

610/373-2400

PENN Entertainment Sets June 24 as Grand Opening Date for New Hollywood Casino Aurora in Illinois