- Boyd Gaming has not explicitly said if the new casino will be built on land or water.
- If the new casino plans receive regulatory approval this year, construction is expected to begin in 2026.
- An agreement signed between Peoria and East Peoria in the 1990s that dictated any land-based casino built in the area had to be in Peoria.
Boyd Gaming is working through the final design and regulatory approval process for its “modern, new entertainment facility” that will replace the Par-A-Dice Riverboat Casino in East Peoria, Boyd Gaming CEO Keith Smith told investors on Thursday.
Smith did not divulge any specific details about the project on a call with investors but did say if the new casino, the location of which remains a mystery, receives regulatory approval this year, construction is expected to begin in 2026.
The biggest question that remains unanswered about Boyd Gaming’s new facility planned is if it will be on the Peoria or East Peoria side of the Illinois River. The answer to that question, which sparked a rift between the two cities, is likely tethered to whether the new facility will be based on land or water.
Boyd Gaming has not explicitly said if the new casino will be built on land or water, but on an earnings call with investors in February, Smith said the company anticipated building a $100 million facility similar to the new Treasure Chest Casino they built in Louisiana, which is a land-based facility.
The question of land-based vs. water-based critical because of an agreement that was signed between Peoria and East Peoria in the 1990s that dictated any land-based casino built in the area had to be in Peoria. Likewise, the agreement stated that any water-based facility, such as the current riverboat, needed to be in East Peoria.
Peoria’s leaders have pushed hard for a land-based casino — and the millions of dollars in tax revenue that comes with it — to land in the city. Officials from Peoria have discussed potential locations for a land-based casino, which all fall near interstates, with Boyd Gaming. The city also hired a law firm and consulting firm to aid in its quest for the casino.
No specific financial details related to the Par-A-Dice Casino were discussed in the call with investors, but Smith painted a very positive picture of Boyd Gaming’s finances. Total revenues were up 4% in the second quarter, totaling $358 million, and up 3% in the Midwest/South region.
