Cullinan signs casino anchor for its Rock Run project

CBL Properties raised eyebrows when it filled empty anchor spaces at two Pennsylvania malls with Casinos. What it really raised was customers. Twice as many now visit both properties.

Now Cullinan Properties’ Rock Run Crossings project in Joliet, Ill., has signed a Pennsylvania-based gaming company to make a casino one of its key anchors.

Penn Entertainment, which owns 43 racetracks and casinos throughout North America, has announced a $185 million budget to build one of its Hollywood Casinos at the under-construction mixed-use center, subject to local regulatory approval.

Its Hollywood Casino at Kansas Speedway in Kansas City covers 240,000-sq.-ft. of space.

“This tenant encompasses our vision for the project that will feature a variety of dynamic uses throughout the site,” said Cullinan CEO Matthew Beverly.

When completed, Rock Run Crossings will encompass more than 1 million sq. ft. of GLA—half of it office, multi-family residential, and entertainment; the other half retail and restaurant. The size and scope of the project is predicated on an expected 76% growth in population in surrounding Will County by 2040.

Penn Entertainment, which opened the Penn National Race Course in central Pennsylvania in 1972, went on to purchase the Hollywood Casinos Corp. in 2003. It’s since acquired Argosy Gaming and Pinnacle Entertainment and opened its home state’s first online casino in 2019.

Odds appear good for local government approval of the casino, to hear Joliet Mayor Bob O’Dekirk tell it.

“The City of Joliet has worked closely with Hollywood Casino and Cullinan Properties to enable the casino to be a catalyst for the region’s exciting new mixed-use development,” said O’Dekirk. “This announcement is another example of positive, ongoing development within the city and the region.