Boyd Gaming Plans Modern Casino Development in Peoria, Illinois
July 25, 2025
Boyd Gaming’s Vision for a New Entertainment Venue
Boyd Gaming’s CEO Keith Smith recently revealed that the company is nearing the completion of designs and awaiting regulatory approvals for a state-of-the-art entertainment complex intended to replace the existing Par-A-Dice Riverboat Casino in East Peoria.
Details and Timeline of the New Casino Project
While Smith did not provide specific details during the investor call, he indicated that if all regulatory approvals are granted within this year, construction could commence in 2026. Although it’s not yet confirmed whether the new casino will be built on land or remain riverboat-based, previous comments from Smith suggest an investment of approximately $100 million in a venue comparable to the recently established land-based Treasure Chest Casino in Louisiana.
Financial Growth and Local Government Support
The announcement comes on the heels of Boyd Gaming’s strong financial performance, with recent quarterly reports showing notable increases in revenue and EBITDA. This success is credited to the company’s dedicated customer base and enhanced retail gaming operations.
Local officials in Peoria have been vocal supporters of a new land-based casino, highlighting the potential for increased tax revenue and economic benefits. Negotiations have explored several viable locations near major highways, reflecting the city’s desire to host the facility within its limits.
Location Debate: Peoria Versus East Peoria
A major unresolved issue is whether the new casino will be situated on the Peoria side or the East Peoria side of the Illinois River. This debate ties directly to the type of casino planned, whether land-based or water-based, due to a longstanding agreement from the 1990s. This agreement specifies that land-based casinos must be built in Peoria, while riverboat casinos are to remain in East Peoria, creating some tension between the two municipalities.
Financial Performance of Par-A-Dice Casino
In recent years, Par-A-Dice has faced challenges as gamblers increasingly prefer newer, land-based casinos that offer a broader selection of games and modern amenities. Data from the Illinois Gaming Board illustrates this trend: in 2016, Par-A-Dice generated $82.5 million in gross gaming revenue (GGR) from over 866,000 admissions. By 2019, revenue declined to $72.8 million with 696,500 admissions.
The impact of the COVID-19 pandemic further affected the casino’s performance, with limited recovery compared to other Illinois and national casinos. In 2022, GGR dropped to $60.7 million with 432,334 admissions, and in 2023, it fell slightly more to $60.5 million from 425,362 admissions.
