Peoria’s Casino Ambitions: A Transition from Riverboat to Land-Based Venture
City officials in Peoria, Illinois, are actively pursuing an innovative venture that could transform the local gaming landscape. Discussions are currently underway with Boyd Gaming Corp., a prominent player in the casino industry, about the possibility of establishing a new land-based casino, repositioning the company from its existing operations with the Par-A-Dice riverboat casino in East Peoria. If this collaboration comes to fruition, it would represent a significant shift in the gaming dynamics along the Illinois River.
Strategic Location Considerations
Peoria Mayor Rita Ali has highlighted that city representatives have pinpointed several potential sites for the new casino, strategically located near interstate highways for maximum visibility. “Casinos usually prefer locations that are near an expressway or highway. They like that visibility for people who might be passing through,” Mayor Ali noted. However, the specific locations have yet to be revealed to the public, leaving much speculation around where the venue might be situated.
Understandably, the choice of site is critical for both the city and Boyd Gaming. A high-visibility location not only enhances accessibility for patrons but also significantly impacts the economic viability of the establishment.
Transition from Par-A-Dice to a New Facility
Boyd Gaming’s interest in transitioning from the Par-A-Dice riverboat casino to a land-based facility is a notable topic in the ongoing discussions. While specific decisions have not been finalized, both sides express a willingness to explore this new venture thoroughly. Nevertheless, there’s a stipulation that complicates the process: a 1991 agreement between Peoria and East Peoria mandates that any new land-based casino must be built on Peoria’s side of the river. Mayor Ali has emphasized the city’s commitment to uphold this agreement, although she remains cautiously optimistic about Boyd Gaming’s ultimate plans.
“I do feel strongly that we should enforce that agreement,” Ali stated, affirming the city’s dedication to maintaining regulatory compliance while fostering development.
Professional Guidance in Negotiations
To enhance their approach to securing Boyd Gaming as a partner, Peoria has enlisted the expertise of John Elias, a seasoned attorney, as well as the investment firm Innovation Capital. The city plans to compensate Elias at a rate of $395 per hour, along with a monthly retainer fee of $10,000 to Innovation Capital. This strategic partnership reflects Peoria’s commitment to presenting a sound case for the casino project, showcasing the city’s assets and the mutual benefits of the collaboration.
City Manager Patrick Urich characterized the ongoing conversations with Boyd Gaming as “very professional,” highlighting the company’s openness to continued dialogue about potential developments.
Optimism from City Leadership
City Council member Chuck Grayeb, who is also a mayoral candidate, conveyed an optimistic viewpoint regarding Peoria’s strategic advantages in the casino project. “We want to make it a great place, show them some of the locations where we think it would work well relative to our interstate highway links,” Grayeb remarked.
This hopefulness permeates the discourse around Peoria’s future as a gaming hub, with officials expressing confidence in their ability to attract Boyd Gaming and enhance the local economy in the process.
Timelines and Future Prospects
While timelines for concluding this project remain ambiguous, Mayor Ali disclosed that conversations began last summer and have included multiple meetings. Peoria officials are eager to bring this ambitious project to fruition, with the aim of finding a solution that aligns with the interests of everyone involved.
Urging patience and thoroughness in negotiations, City Manager Patrick Urich stated, “The goal is to find something that is amenable to everyone,” alluding to the cooperative spirit needed to move forward on this potentially lucrative venture.
Conclusion
Peoria’s efforts to transition from a riverboat casino to a vibrant land-based gaming facility underscore a transformative moment for the city. Navigating the complexities of legal agreements while actively engaging with Boyd Gaming’s interests highlights the strategic approach Peoria officials are taking. As conversations progress, stakeholders eagerly await further developments that could redefine the region’s entertainment landscape and contribute positively to the local economy.
