The Peoria City Council is taking significant steps to bring a land-based casino to the other side of the Illinois River, signaling a promising development for the local economy and entertainment scene.
In a unanimous vote on Tuesday, the council approved plans to hire consultants who will assist in making the casino vision a reality. The decision includes retaining a financial advisor to help structure the capital requirements of the proposal and securing legal counsel with expertise in Illinois gambling laws. The city has enlisted John Elias from the Elias, Meginnes & Seghetti law firm and the investment firm Innovation Capital LLC to develop a proposal for a new casino project.
The Road to Boyd Gaming
Peoria is aiming to attract Boyd Gaming, the parent company of Par-A-Dice Casino, which has expressed interest in creating a new, state-of-the-art gaming facility. Boyd Gaming’s announcement earlier this year to develop a “modern, fresh gaming facility” has sparked hopes that the company might choose Peoria for its next big project.
Council members are optimistic that with the right proposal and backing, Boyd Gaming will be drawn to the city as it continues to grow its gaming footprint across Illinois. The addition of a land-based casino would not only boost Peoria’s economy but also add to the competition in the state’s gaming market.
As the city looks forward to the possibility of a new casino, the partnership with legal and financial experts is critical in navigating the complex process of obtaining the necessary approvals from the Illinois Gaming Board. With these consultants on board, Peoria is working to ensure that the project is fully developed, compliant with state regulations, and set for success.
