Photo by Wikimedia Commons, CC by 3.0 (https://creativecommons.org/licenses/by/3.0/)
The Peoria City Council voted 5-5 on Tuesday not to agree to a settlement with Boyd, implying the continuation of the ongoing legal battle.
Furthermore, the city of Peoria filed a lawsuit to block a vote by the Illinois Gaming Board (IGB) on Boyd’s plans to construct a new Par-A-Dice Casino in East Peoria. The suit identified Boyd, East Peoria, and the Par-A-Dice Gaming Corporation as defendants.
The city is also hoping for a temporary restraining order that would block the IGB’s Thursday vote on Boyd’s $160 million proposal.
Had the council approved the settlement and greenlit the casino’s development, the city would’ve received about 2.25 percent of its annual gaming revenue, equaling an estimated $1.8 million per year.
However, the final decision means “no dice” for the casino.
The “no” votes were registered by Alex Carmona, Tim Riggenbach, Zachary Oyler, John Kelly and Kiran Velpula. Denis Cyr was not present, which is why only 10 members cast their votes.
Mayor Ali said that the lack of casino funding and the continued legal costs would come at a great cost to the city.
The issue at hand between Peoria and Boyd involves a 1991 agreement that stated a land-based casino would be built in Peoria.
The city filed an objection with the IGB, which said that redevelopment of a casino could challenge its rights and affect local tax revenues.
Plans for redevelopment included modernizing the facility and expanding the gaming floor, adding new dining options, including a steakhouse, and refurbishing its riverboat casino while remaining compliant with state requirements.
To maintain the casino’s riverboat status, redevelopment would have to involve funneling water from the Illinois River beneath the casino’s gaming floor. Essentially, developers would’ve had to build a man-made structure with water beneath it.
Mike Vespa, who voted for the settlement, admitted the plan was “ridiculous.” Oyler, an at-large councilman, claimed there were “bad actors” on the other side.
City Attorney Patrick Hayes estimated that the ongoing legal fees will cost Peoria $1 million annually.
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