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Par-a-Dice Casino in Peoria, Illinois, may soon abandon its riverboat roots and move to more modern, landlocked location in the middle of town.
Peoria and neighboring East Peoria have been at odds over the Par-a-Dice relocation. East Peoria hosts the casino’s current riverboat location on the south shore of Peoria Lake. However, Peoria finally appears close convincing Par-a-Dice’s operator Boyd Gaming to follow through on its expansion plans.
The recent saga started in March with the Illinois Gaming Board’s decision to extend Boyd Gaming’s Illinois casino license for four years. That permission came with the condition that Boyd must devise a plan for a state-of-the-art gaming facility in Illinois within two years.
Fortunately, this requirement aligns with Boyd Gaming’s prior assurance to introduce a casino project in the state within the same period.
Peoria city official gets in action
As Peoria prepares to sit down at the negotiating table with East Peoria and Boyd Gaming, the city is taking a proactive approach to ensure its voice is heard.
City staff has recommended partnering with Innovation Capital LLC, an investment firm. It also has recommended partnering with attorney John Elias, a seasoned expert in negotiations. The proposed agreements will be reviewed and voted on at the December 10 city council meeting.
If approved by the council, the contract with Innovation Capital would span six months. That is providing Peoria with the expert guidance it needs to navigate the complex negotiations with Boyd Gaming.
While the fees for attorneys and investment managers may seem substantial, they are a drop in the bucket compared to the potential windfall the city could reap if Boyd Gaming decides to build its new facility in Peoria.
On the matter, Assistant City Manager Kimberly Richardson said, according to a WCBU publication:
We are looking at a feasibility study, so we want to bring in a financial advisor to assist us with understanding what the investment will look like and some more of the financial aspects of it if a casino came to the city. Then you have the legal aspects of just understanding the gaming law and making sure that as this progresses, we are doing things through the Illinois Gaming Board correctly.
Peoria and East Peoria’s long-standing dispute
The long-standing dispute between Peoria and East Peoria is birthed from a 1991 agreement that states that Peoria host a temporary riverboat casino for a period of two years and then relocates to a land-based facility in East Peoria.
Nonetheless, both cities have interests in being the host of the casino. However, Boyd Gaming is playing it safe as it is yet to answer the question of ‘where.’ Richardson noted:
At this time, there has been no mention by Boyd Gaming of the location of expansion; we’re just preparing for the inevitable. So we’re doing our due diligence and making sure that we are prepared and ready for when that plan is announced and released.
As uncertainty unravels between both cities, Hard Rock Casino in Rockford, Illinois, on August 29, opened the doors to its permanent facility.
The state of Illinois is now said to have 16 casinos. Bally’s Chicago scheduled to open in 2026 in the city of Chicago.
Online casinos are off the books in Illinois at the moment. Boyd Gaming’s ownership of the Stardust Online Casino brand presents an opportunity for expansion into the online gaming sphere, particularly if Illinois legalizes iGaming.
This synergy could lead to increased revenue and brand visibility.
