- Boyd Gaming’s plans in East Peoria have been authorised
- The Illinois Gaming Board backed a brand new barge construction at Par-A-Cube Resort On line casino
The Illinois Gaming Board has signed off on Boyd Gaming’s redevelopment of the Par-A-Cube Resort On line casino in East Peoria.
The Illinois Gaming Board has authorised Boyd Gaming’s plans to sink its Par-A-Cube riverboat in favor of a completely moored barge construction above the Illinois River. The gaming operation will stay in East Peoria. (Picture: Boyd Gaming/Illinois Gaming Board)
After a chaotic month that noticed Boyd flip the script and take the higher hand away from the Metropolis of Peoria in negotiating phrases for a largely land-based on line casino on the east facet of the Illinois River, state gaming regulators authorised the Las Vegas-based on line casino operator’s plans for a extra conventional water-based gaming facility.
As a substitute of the $160 million plan initially introduced to the IGCB that included a brick-and-mortar on line casino hovering above a small 1,000-gallon water basin to fulfill the Illinois Riverboat Playing Act, the state accepted the reworked growth of a completely moored barge on the Illinois River.
With the board’s blessing, Boyd Gaming officers informed the state that work on the moored construction would start quickly. The plan will set sail on the longtime docked riverboat to supply a extra “seamless buyer expertise” with the vacation spot’s eating places and a shorter trek to the riverboat’s 202-room resort.
Boyd’s presentation at this time moreover included a refreshed Par-A-Cube brand stylized in an Artwork Deco-like font.
Peoria Loses
The Metropolis of Peoria challenged Boyd Gaming’s unique plan to modernize Par-A-Cube. Metropolis officers contested whether or not the 1,000-gallon water basin constituted riverboat playing below state regulation.
A 1991 intercity governmental settlement requires that each one riverboat gaming happen in East Peoria, however all brick-and-mortar playing should happen in Peoria. Whereas the cities share Par-A-Cube’s native gaming income tax, all different taxes, together with resort, meals and beverage, and leisure, stay with East Peoria.
To appease Peoria’s authorized problem of Boyd’s water basin plan, which the corporate referred to as a “modernized riverboat,” the on line casino supplied to direct 2.25% of all non-gaming income it generates to the town. Peoria estimated that might quantity to $1.8 million yearly.
In a break up 5-5 resolution, the Peoria Metropolis Council rejected Boyd’s supply. These dissenting thought they might get a greater supply from Boyd. They didn’t.
Boyd as a substitute ditched the water basin idea for the moored construction, which is able to lengthen the land-based on line casino entrance northeast over the water.
Final-Minute Effort
Forward of the IGB’s Thursday assembly, the Metropolis of Peoria requested the state gaming board to require that Boyd Gaming “maximize” the worth of the gaming concession. The longshot ask was on the slim hope that the IGB would declare that the easiest way to realize the license’s most worth could be to assemble a land-based on line casino, which might pressure the event throughout the Illinois River.
In 2019, Illinois amended its gaming legal guidelines to permit riverboats to maneuver inland.
Ultimately, Boyd is staying put in East Peoria. Boyd has owned and operated the East Peoria on line casino since 1996, when it acquired the property and gaming license for $163 million from a gaggle of native buyers.
