Boyd Gaming is planning to replace its riverboat casino in East Peoria, Illinois, with a new facility. The casino operator’s plans are to move the casino inland while still keeping it aligned with the local definition of a riverboat casino.
Boyd Plans New Riverboat Casino
For context, Boyd Gaming currently operates the Par-A-Dice Casino, which is situated upon an actual riverboat, with an adjacent land-based hotel. Under its submitted proposal, Boyd could replace the boat with what is essentially a traditional building.
However, Boyd’s new property will include a 1000-gallon water basin fed by the Illinois River beneath the new facility’s concrete slab. As a result, Boyd’s proposed new casino would still fit Illinois’ legal definition of what a riverboat casino must be.
For context, the law allows gambling “upon any water within the State of Illinois.”
If Boyd’s plans are greenlit, the planned new building would be erected against the south side of the Par-A-Dice Hotel. It will have a 29,000-square-foot gaming area, a 20,000-square-foot meeting space, a steakhouse, and a pub.
The New Casino Could Boost Boyd’s Local Performance
By constructing a new casino that meets the definition of a riverboat casino, Boyd Gaming will be able to stay in East Peoria. Otherwise, the casino might be required to relocate to Peoria due to an agreement signed in 1991.
Per this agreement, if the area is allowed to construct a traditional land-based casino, the license should move to Peoria. However, this doesn’t apply to riverboat casinos, which is why Boyd intends to satisfy the conditions of having its property defined as one.
In any case, Boyd’s decision to move to a new facility reflects recent struggles of its business. The Par-A-Dice casino’s revenue has been declining for the past two decades, suggesting the need for a refurbished property.