Boyd Gaming has unveiled a revised strategy for the Par-A-Dice Hotel Casino redevelopment, opting to place the casino floor on a permanently moored barge on the Illinois River. This significant alteration aims to navigate regulatory hurdles and existing intergovernmental agreements.
Key Takeaways
- The casino floor will be situated on a barge on the East Peoria side of the river.
- This modification is intended to comply with the amended Illinois Gaming Act and an agreement requiring land-based casinos to be in Peoria.
- The Illinois Gaming Board has postponed a vote on the proposal, scheduling a new meeting within three weeks.
- Peoria had previously rejected a settlement and filed a lawsuit to block the original redevelopment plans.
Navigating Regulatory Waters
Boyd Gaming’s decision to move the casino floor to a barge represents a strategic pivot in response to the complexities of the Illinois Gaming Act and a pre-existing intergovernmental agreement between Peoria and East Peoria. This agreement stipulates that any land-based casino in the region must be located within Peoria’s city limits. By situating the casino on a barge, Boyd Gaming aims to circumvent this requirement while maintaining its presence in East Peoria, a location they have expressed a preference for.
Legal and Political Landscape
The original redevelopment proposal, which involved constructing the casino above a basin filled with river water, faced significant opposition. The Peoria City Council voted against a settlement agreement that would have provided the city with an estimated $1.8 million in annual profits. Following this, Peoria initiated a lawsuit in Cook County to halt the project as initially planned. Boyd Gaming representatives stated at a recent Illinois Gaming Board meeting that the modified barge plan renders Peoria’s legal challenge obsolete.
Gaming Board’s Deliberation
Following a closed-door session, the Illinois Gaming Board announced its decision to delay a vote on Boyd Gaming’s revised Par-A-Dice proposal. The board intends to convene a special meeting within the next three weeks to further consider the matter. City officials had previously indicated an agreement to pause any gaming board decisions until a judge could rule on Peoria’s request for a temporary restraining order, which was scheduled for February 13.
This report will be updated as more information becomes available.
