Illinois Casino Par-A-Dice to Be Replaced by Peoria Brick-and-Mortar Property
Posted on: February 10, 2025, 08:47h.
Last updated on: February 10, 2025, 09:53h.
An Illinois casino riverboat is set to relocate to a new brick-and-mortar facility.
Boyd Gaming, the longtime owner and operator of the Par-A-Dice Hotel Casino in East Peoria, Ill., confirmed speculation during its 2024 earnings call last week that it plans to relocate the riverboat to a new land-based gaming destination across the Illinois River. Boyd bought the gaming vessel that houses 550 slot machines, 18 live dealer table games, and a FanDuel Sportsbook in 1996.
We anticipate replacing our 30-year-old riverboat casino Par-A-Dice with a compelling new entertainment destination. While it is still early in the design process, we could begin construction as early as the first half of 2026 pending regulatory approvals,” said Boyd Gaming CEO Keith Smith.
“We are confident that this project will deliver a solid return on our investment by driving incremental growth in visitation and business volumes at Par-A-Dice following its completion,” Smith added.
Illinois Casino Market Comeback?
Boyd Gaming’s Par-A-Dice Casino needs revitalization. The riverboat’s annual gross gaming revenue (GGR) sunk from about $79 million in 2017 to below $60.5 million last year, a more than 23% drop.
In 2024, the Par-A-Dice riverboat counted 425,362 admissions to its 26K-square-foot gaming vessel, down 45% from the 776,176 people who patronized the casino in 2017.
Boyd Gaming and Smith are hopeful that a new facility will return players not unlike a brick-and-mortar development did for the company’s Treasure Chest near New Orleans in Kenner, La. The land-based Treasure Chest opened last June.
Smith says a land-based Par-A-Dice likely wouldn’t be as successful as the brick-and-mortar Treasure Chest because Peoria’s population is 110K compared to New Orleans’ 364K residents. Despite similar investments — around $100 million — Smith says a smaller population paired with Illinois being home to gaming machines in restaurants and bars will lessen the regional gaming operator’s expectations for a new Par-A-Dice property compared with Treasure Chest.
“The populations in the areas are completely different,” Smith explained. “The level of competition surrounding Par-A-Dice with all the [gaming machines] in Illinois is significantly greater than in New Orleans.”
Illinois River Hopping
Boyd Gaming’s ambitions to sink its Par-A-Dice riverboat casino in favor of a brick-and-mortar gaming floor will require the hotel and casino to move west across the Illinois River from East Peoria to Peoria. That’s because the two cities signed an agreement in 1991 stating that any riverboat gaming would occur in East Peoria, but should Illinois lawmakers expand gaming to allow brick-and-mortar, a land-based casino would be located in Peoria.
City officials in East Peoria have expressed displeasure with the local government in Peoria seemingly trying to woo Boyd Gaming with a brick-and-mortar development. The Peoria City Council has been working with Florida-based Innovation Capital to advise the city on how to go about working with the Las Vegas-headquartered gaming firm on a new development.
Innovation is being compensated $10K a month for its consulting services.
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Last Comments ( 8 )
We just go to Bally's in the Quad Cities. Never have any luck at the boat. We also get way more free gifts and 2 free nights every week. Boyds player perks suck.
The reason they make less money and have less patrons now is obvious to me. You can play slots all over now at gas stations and many other places.
The reason the revenue has dropped is because you never win there anymore. There pay back percentages are terriable. You can drive south and go to River City which is huge and you win or Hollywood casino. I have had more luck at those 2 places over the last 2 years as the Paradise has just gone down hill. From the wins all the way to the food at William B's to the service and food at Tin Lizard. Just bad now.
I think moving it to Peoria is a great idea. You can see the economic growth that has happened because of the casino in the east Peoria. Before it opened there, East Peoria was in a terrible place and way. This is going to help Peoria a lot and the location I'm sure will make more sense than it is in East Peoria. Not to mention all the better restaurants in Peoria and if they are north of war memorial in being pretty safe.
LOL have fun getting constantly robbed and dealing with the cops being called for all sorts of crimes you're about to bring your way... You guys must not understand how Peoria works lol. Making the biggest mistake of your career.
Why would they move to Peoria? They have a beautiful place on the river right where they’re at that is much safer than anywhere in the Peoria area. I think if they move, they will definitely lose a whole lot of local business !
Ellen you are absolutely correct! They are moving the tax dollars that are generated to peoria.
They can move it over to Peoria and no one I know will go there again. So go ahead move it to Peoria, My family and friends and I will just go to the bars, where the food, drinks and gambling is cheaper!! And the company is way better! Good Luck Peoria!!! ✌️