(WBBM NEWSRADIO) — Aurora residents said they oppose a proposal to use city funds to cover some of the costs of moving the Hollywood Casino.
Penn Entertainment wants to move the casino from along the Fox River to a new site it plans to build near Interstate 88 and Farnsworth Avenue.
The proposal includes the city raising $50 million for the project by selling bonds, with the money eventually repaid either through property taxes on the new site or by Penn.
Nathan Sheppard, a member of a group called the Aurora Grassroots Alliance, said residents of Aurora need the financial help more than Penn.
“The city has a 10.6% poverty rate, there’s a bunch of community fridges and food pantries that are running low on food every single day, and the city also has rising rents,” Sheppard said.
He added that Penn’s net income for shareholders was in the hundreds of millions of dollars.
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“The casino company, Penn Entertainment, made a gross profit of $2.7 billion, and their net income for their shareholders was about $420 million,” Sheppard said. “The city doesn’t need to give the casino a $50 million bond when we know, based on their financials, they can totally afford it.”
Aurora Grassroots Alliance plans to hold rallies and has launched a petition drive to encourage more Aurora residents to speak out against allocating any city funds for the casino move.
“The city can be using that $50 million on helping build more affordable housing … we can use that $50 million to support local families in need,” Sheppard said.
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