The city of Peoria is considering a bold move to bring Boyd Gaming’s local casino from its current East Peoria riverboat location to a land-based facility within the city’s limits. The City Council will vote on an agenda item this Tuesday, signaling the city’s first official steps toward making the shift.
Peoria’s potential move to bring Boyd’s casino to land isn’t just about convenience—it’s about expanding the city’s gaming market, attracting more tourists, and boosting local revenue. But the road to a land-based casino is filled with questions, from financial concerns to the legal hurdles that will need to be navigated.
Financial Feasibility Under Scrutiny
The city’s effort to bring a new land-based casino is still in the early stages, and officials are proceeding cautiously. The next step involves gathering data on whether the move would be financially viable.
“We’re looking at a feasibility study,” explained Assistant City Manager Kimberly Richardson. “We want to bring in a financial advisor to assist us with understanding what the investment will look like and some more of the financial aspects of it, if a casino came to the city.”
This is crucial. A land-based casino would require significant investment, not just from Boyd Gaming but also from the city. The feasibility study will help determine whether the new facility would be a good fit for Peoria’s market. But with other casinos in Illinois seeing success, city leaders are optimistic.
- Challenges: How will the move affect Peoria’s economy?
- Opportunities: Could a land-based casino bring new jobs, increased tourism, and higher tax revenue?
In other words, the financial advisor will assess the potential benefits and drawbacks of transitioning Boyd’s East Peoria riverboat casino into a land-based facility. If the numbers work out, the city could see a boost in revenue.
The Legal Process and Next Steps
It’s not just about finding the money. The legal side of this move is just as complex. Changing the location of the casino from a riverboat to a land-based venue involves navigating the state’s gaming laws, which govern casino operations.
The agreements to be discussed at Tuesday’s meeting will involve both an investment banking consultant and a legal services firm. The consultants’ role will be to study the financial feasibility, while the legal team will help ensure the city stays within state regulations throughout the process.
City officials are aware that legal considerations will play a major role in any decision. In addition to securing proper approvals from state gaming authorities, Peoria may have to contend with zoning and land-use issues, as well as potential opposition from local residents who may not welcome the change.
What This Means for Peoria
Peoria’s potential casino transformation is not just about gaming—it’s about the city’s future. A move from a riverboat to a land-based facility could have a lasting impact on Peoria’s development.
Land-based casinos have proven to offer greater long-term stability than riverboat casinos, which are often at the mercy of water levels and weather conditions. If Boyd Gaming moves to a more permanent location, it could open up opportunities for more entertainment and dining options. This shift could also create hundreds of jobs in construction, hospitality, and entertainment, bolstering Peoria’s economy.
Some local residents are excited about the prospects. “If it helps our city grow and brings in more visitors, I’m all for it,” said one local business owner. Others are more cautious, wondering about the potential for increased traffic or noise.
The move could also lead to changes in the local tourism industry. Peoria might see an uptick in visitors who would have previously passed by on their way to other casinos in the region. The land-based casino could also open the door for additional attractions, like hotels and event spaces, that could further boost tourism.
Boyd Gaming’s Role and the Bigger Picture
Boyd Gaming, the company that owns the East Peoria riverboat casino, has been a significant presence in the region for years. The company has not commented directly on the potential move but has shown a willingness to collaborate with the city if the financials make sense.
The success of a land-based casino could benefit Boyd Gaming in the long run. For one, the company would likely see a more predictable revenue stream. Riverboats have limitations when it comes to size and capacity, while a land-based casino would allow Boyd to expand its offerings and provide a more expansive gaming experience.
Other casinos in Illinois, like the Rivers Casino in Des Plaines, have demonstrated that land-based operations can be highly lucrative, generating tens of millions in revenue each year. For Boyd, a move to a more permanent structure in Peoria could offer a chance to tap into a wider audience.
Looking Ahead
While the outcome of Tuesday’s vote is uncertain, the conversation around the potential for a land-based casino in Peoria has already started. If the City Council moves forward, it could be the beginning of a new chapter for the city’s gaming scene.
Only time will tell if Peoria’s vision becomes a reality, but one thing is clear: the city is serious about exploring every avenue for growth, and a land-based Boyd Gaming casino might be the next step in that direction.
