New Land-Based Casino in Peoria: Par-A-Dice Completes Illinois Relocation

The upcoming relocation of the iconic Par-A-Dice marks a pivotal evolution in gaming, transitioning from its traditional riverboat roots to a sophisticated, state-of-the-art land-based casino in Peoria. This strategic shift is being spearheaded by Boyd Gaming, the operator of the Par-A-Dice Hotel Casino in East Peoria, who recognizes that a modern land-based casino environment is essential for revitalizing the guest experience. By moving away from the limitations of a vessel, the operator aims to combat declining patronage and revenue through the enhanced amenities and expanded floor space that only a premier land-based casino can provide.

During a recent earnings call, Boyd Gaming outlined its plans to relocate its riverboat, which currently boasts 550 slot machines and 18 live dealer table games, along with a FanDuel Sportsbook. This strategic move is expected to create a compelling new entertainment destination that can elevate both player experience and profitability.

“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’s CEO, Keith Smith.

The Par-A-Dice’s yearly gross gaming revenue has faced a steep decline, dropping from approximately $79 million in 2017 to less than $60.5 million lately—a staggering decrease of over 23%. Visitor numbers have plummeted by nearly 45% over the same period, as the riverboat only saw 425,362 admissions in 2024 compared to 776,176 in 2017.

Illinois Casino Market Comeback?

Smith and Boyd Gaming are optimistic that relocating to a brick-and-mortar facility will help regain its players and enhance gaming revenue. Other successful transformations within the gaming industry, such as the company’s land-based Treasure Chest Casino near New Orleans, serve as models. However, there are concerns; Peoria has 110,000 residents compared to New Orleans’s 364,000, leading Smith to moderate expectations based on potential visitation and local competition.

“The populations in the areas are completely different,” Smith noted. “The level of competition surrounding Par-A-Dice with all the gaming machines in Illinois is significantly greater than in New Orleans.”

Turning the Tide Across the Illinois River

The relocation of Par-A-Dice entails moving from East Peoria to its namesake city, Peoria, as part of an agreement struck between the two municipalities in 1991. This stipulation stated that any riverboat gaming would be confined to East Peoria, but land-based gaming could expand into Peoria if approved by lawmakers.

While this development has received some resistance from East Peoria city officials, the Peoria City Council is actively seeking to entice Boyd Gaming, even hiring Florida-based Innovation Capital to guide the project. The cost for advisory services stands at $10,000 per month.

• Anticipated Construction Costs: Approximately $100 million.
• Current Riverboat Capacity: 550 slot machines and 18 live dealer games.
• Projected Opening: First half of 2026, contingent on regulatory approval.
• Historical Revenue Drop: 23% decline since 2017.
• Visitor Decline: 45% drop in annual admissions from 2017 to 2024.

This change not only represents a new chapter for the Par-A-Dice but also serves as a significant economic move for Peoria, which hopes to reap the benefits of the casino’s relocation.

Conclusion

The Par-A-Dice’s shift to a brick-and-mortar establishment embodies the evolving landscape of gaming in Illinois. As the state continues to navigate its regulations and competitive market, the community awaits the potential revitalisation that could stem from this new venture.