Chavdar Vasilev is a journalist covering the casino and sports betting market sectors for CasinoBeats. He joined CasinoBeats in May 2025 and reports on industry-shaping stories across the US and beyond, including legislative debates, market...
Read Full BioBret Michaels will be the first performer to take the stage at the new Hollywood Casino Joliet on October 18.
The $185 million casino opened on August 11 with several hundred customers lining up to attend the grand opening. Michaels will perform at the property’s 10,000-square-foot event center, which is designed to host a wide range of performances.
Ruben Warren, vice president and general manager of Hollywood Casino Joliet, described Michaels as the ideal artist to open the stage.
Warren stated: “When we were asked who the artist was who would bring the ultimate party, big hit songs, and nothing but a good time for the grand opening of the Hollywood Joliet stage, there was only one answer — Bret Michaels.”
Michaels is known as the frontman of Poison and for his solo career, with hits like “Every Rose Has Its Thorn,” “Go That Far (Rock of Love theme song)” and “Nothing But A Good Time.”
He has also appeared in the reality TV shows “Bret Michaels: Life as I Know It” and “Rock of Love with Bret Michaels.”
Tickets for the show will be available on Ticketmaster. They go on sale Friday, August 22.
From Riverboat to Land-Based Casino
The performance tops a year of transformation for Hollywood Casino Joliet. The new complex, located in the Rock Run Collection at the I-80/I-55 interchange, about 45 miles southwest of downtown Chicago, replaced the riverboat casino.
The riverboat, which first opened as the Empress Casino in the 1990s, closed permanently on July 29, after three decades on the Des Plaines River. The new land-based property delivers an upgraded experience, including:
- Approximately 1,000 slot machines
- 43 live table games, including high-limit and baccarat rooms
- Full-service ESPN BET sportsbook
- 10,000-square-foot event center
- 1,300+ parking spaces
- Dining options such as Sorellina by Giada De Laurentiis, Antique Taco, Lucky Goat, Pretty Cool Ice Cream, and Five50 Pizza
The new casino has also hired approximately 200 additional staff members, bringing the total to around 600. The property’s parent company, PENN Entertainment, targets an annual revenue of $150 million.
Analysts Weigh in on PENN’s Joliet Investment
The new Joliet casino opening came just days after PENN released its Q2 results. While it beat revenue expectations and reported a modest 1% growth in its land-based casino sector, the earnings failed to inspire investors.
Analysts, however, viewed the new property as a promising long-term play.
JMP Securities reaffirmed Penn’s “Market Outperform” rating and raised its target to $25. The firm emphasized the importance of relocations, such as Joliet.
Morningstar projected the Joliet and upcoming Aurora relocations “should produce a mid-teens percentage return on investment.” The analysts suggested the upgrades may produce “mid-single-digit annual revenue growth” in the Midwest, compared to about 1% projected for 2025.
Some firms took a more cautious assessment. Stifel maintained a “Hold” rating and a $19 price target. Still, the firm described Hollywood Joliet as a “significantly improved product and location.”
Morgan Stanley also maintained its “Equalweight” rating and $17 price target, but acknowledged the improved location of the property.
Together, the reports reflect cautious optimism. While some firms see Joliet as a blueprint for successful regional redevelopment, others are waiting to see how the investment performs in a competitive Illinois market.
Image credit: Eva Rinaldi via Wikimedia Commons (license)
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