Gaming and Leisure Properties (GLPI) has formed its first-ever joint venture with Prologis to develop the former Hollywood Casino Joliet site in Illinois into an industrial use complex – also representing the organization’s inaugural non-gaming investment.
“We are pleased to partner with Prologis, a leader in the logistics real estate space, in this joint venture. We see considerable value in this development, as we contribute and monetize our expansive Joliet land parcel, and benefit from the expertise of Prologis in the development of this coveted site,” GLPI Chairman and CEO Peter Carlino said.
The former Hollywood Casino Joliet site was vacated by Penn Entertainment in September 2025 as the operator pushed forward with plans to unveil a new landside establishment for Illinois residents.
Prologis confirmed the site will be transitioned into a Class A warehouse and distribution park, pending review and approval by the City of Joliet.
The project is expected to take five years to complete while construction will be carried out in three phases. Construction will include the development of five building structures totaling over 3.8 million sq ft.
Prologis SVP and Investment Officer Josh Zemon also spoke on the new development, having said, “We are excited to partner with GLPI on this project. The site offers exceptional location and access, and we see a strong opportunity to create a modern logistics campus that supports the local economy and businesses looking to operate in Joliet.
“We look forward to working with GLPI, the City of Joliet and the community as we move through the development process.”
Penn Entertainment also opened Hollywood Casino and Hotel Aurora on June 24, converting a former riverboat gambling site into a land-based resort complex and representing a $360m investment in the Chicago-area market.
The gaming floor spans more than 1,000 slot and video poker machines and over 50 table games, including blackjack, craps, roulette and baccarat.
GLPI purchased the real estate of Live! Casino and Hotel Virginia – a new property expected to debut in late 2027 – for $27m and committed $440m in hard cost funding during October 2025
