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Boyd Gaming shifted its plans for redevelopment of the Par-A-Dice on line casino website in East Peoria, transferring the on line casino ground to a completely moored barge on the Illinois River.
The Nevada-based firm revealed the modification to its authentic proposal for a $160 million “riverboat modernization” through the state board’s assembly Thursday in Chicago.
“We no longer have to debate. We no longer have to ask you to be creative. We no longer have to ask you that this is the current industry standard,” stated Uri Clinton, Boyd’s govt vp and basic counsel.
“We think this will be a best in class, permanently moored barge which is consistent with statutory requirements to conduct gaming and maximizes the opportunity for us to make the investment that we need to make in order to modernize our offering here in the State of Illinois.”
After a 45-minute closed session, the state board introduced it could delay a vote on the Par-A-Dice redevelopment. Administrator Marcus Fruchter stated the board would schedule a particular assembly throughout the subsequent three weeks to make its closing choice.
“From our perspective, we’re glad that the gaming board didn’t make a decision today. But we’re going to ask Boyd for more information about what the new plan entails,” stated Peoria City Manager Patrick Urich.
“Then we’ll discuss that with the city council and our legal staff as we get into closed session on Tuesday night and decide how we go forward with regards to the litigation that we’ve got pending. But the key for that is really getting a good understanding about what Boyd is proposing here.”
Boyd Gaming
/
Illinois Gaming Board
Mayor Rita Ali issued a public assertion echoing Urich’s feedback.
“Stating that they have additional questions, the board indicated they will convene a special meeting in about three weeks to take up the matter,” Ali stated in her assertion.
“During this time, the city will request more detailed information from Boyd Gaming regarding the modified development plan and determine if the new plan is compliant with state law and intent.”
Boyd made the change in an effort to adjust to the amended Illinois Gaming Act and the present intergovernmental settlement between Peoria and East Peoria, each requiring any land-based on line casino within the space to be positioned in Peoria.
“For some time, actually, all of the interested parties understood that [an] option for the redevelopment of the riverboat was a permanently moored barge,” stated Clinton.
Boyd has made clear its intent to stay at its East Peoria location. The authentic redevelopment proposal would have constructed the on line casino above a basin with water pumped in from the river.
“East Peoria has been home to the Par-A-Dice Hotel Casino since 1993, and I’m thankful to say that we are one of two municipalities that have received shared revenue of over $200 million since that time,” Mayor John Kahl informed the gaming board.
“I view this as very consistent, other than the location of the casino floor, which, as they laid out, is over water. So I think it meets all the requirements [and] should be of no surprise.”
The Peoria City Council voted down a settlement settlement that might’ve allowed the unique redevelopment plans to proceed, with the town receiving a share of income estimated at $1.8 million yearly.
Peoria then filed a lawsuit in Cook County searching for to dam the redevelopment plan as initially offered. At Thursday’s assembly, Boyd representatives stated the modified plan renders Peoria’s authorized problem moot.
“To say the least, we’re quite surprised. It may well resolve the issue, but we’d like to determine whether it does,” stated lawyer Cid Froelich, outdoors counsel engaged on Peoria’s behalf.
“We may be dismissing the litigation, but we’ve got to take a look – and not in five minutes.”
During Monday’s particular Peoria City Council assembly, Ali speculated that the rejection of the proposed settlement might go away the town “empty-handed.”
Urich beforehand stated the events had agreed to remain any choice by the gaming board till a choose thought-about the town’s request for a brief restraining order scheduled for Feb. 13.
“I think that’s probably moot because we got a different plan now. Our pleading was all pertaining to their original presentation that they gave, which is now completely different,” he stated. “So I imagine that we’ll talk that through with council and what our options are, and we’ll figure it out from there.
“But I think that it is a materially different plan that they’re presenting now.”
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