Peoria City Council to discuss settlement with Boyd Gaming over Par-A-Dice’s location

The Peoria City Council is scheduled to meet to discuss a proposed settlement with Boyd Gaming regarding the redevelopment of the Par-A-Dice Casino Hotel in East Peoria. Under the proposed deal, the city of Peoria would receive a percentage of the adjusted gross revenue generated at the redeveloped facility, in addition to existing gaming revenues from the Intergovernmental Agreement with East Peoria. In return, Peoria would withdraw its objections to the redevelopment plan and support its approval by the Illinois Gaming Board.

The dispute stems from a 1991 agreement stipulating that land-based gaming should be located on the Peoria side of the river. Boyd Gaming’s plan to overhaul the property, investing $160 million, was seen by Peoria as potentially violating this agreement. City Manager Patrick Urich clarified that the settlement focuses on non-gaming revenues like property and sales taxes. The proposed settlement mirrors a current agreement with East Peoria, which provides Peoria with approximately $3 million annually.

Boyd Gaming initially presented its redevelopment plan to the Illinois Gaming Board in December, envisioning a new facility replacing the existing boat, built atop a manmade pond. The Gaming Board is expected to potentially take action on the proposal at its next meeting on February 5th. If approved, the new facility could be completed by the end of 2028.

(Source：Yahoo! News)