Peoria Council Split Vote Stops Boyd Gaming Casino Deal
A divided Peoria City Council vote halted an agreement with Boyd Gaming, potentially leading to a lengthy legal battle over casino redevelopment.Summary
The Peoria City Council rejected a proposed agreement with Boyd Gaming regarding the redevelopment of the Par-A-Dice casino in East Peoria, resulting in a 5-5 vote. The agreement would have provided Peoria with 2.25% of the adjusted gross revenue from Boyd’s planned $160 million project, estimated at $1.8 million annually, in addition to existing gaming tax revenue. The dispute stems from a 1991 agreement stipulating East Peoria hosts riverboat casinos while Peoria hosts land-based gambling. Boyd Gaming’s plan, described as an “updated riverboat” with a small pool of water, is contested as potentially violating the agreement. Council members opposing the deal believe Boyd Gaming was aware of the agreement’s limitations, while supporters warned of the financial risks of a prolonged court battle, potentially costing the city over $1 million in legal fees. With the deal collapsed, Peoria must now decide whether to renegotiate with Boyd Gaming or pursue legal action as the Illinois Gaming Board reviews Boyd’s redevelopment plan.
(Source：Gamblingnews)