PEORIA, Ill. – The City of Peoria has reached a settlement agreement with Par-A-Dice Gaming Corporation that would provide revenue to the city in exchange for withdrawing objections to the casino’s redevelopment plan in East Peoria.
The Peoria City Council will consider approving the settlement agreement at a special meeting on Monday, February 2. If approved, Peoria will receive 2.25 percent of adjusted gross gaming revenues generated at the redeveloped Par-A-Dice facility once it opens to the public.
City Manager Patrick Urich said, in a statement to WMBD Radio, the financial settlement covers “non-gaming revenues, such as property taxes, sales taxes and HRA taxes that may have been generated had the facility been built in Peoria.”
Urich added that “the settlement is independent of and in addition to the local gaming payments made under state law and the Intergovernmental Agreement with East Peoria.”
Par-A-Dice Gaming Corporation proposed improving and redeveloping its gaming facility in East Peoria using pipes of water from the Illinois River under a new gaming floor near the existing hotel, as presented to the Illinois Gaming Board on December 11, 2025.
The City of Peoria objected to the redevelopment plan in a letter dated January 20, 2026.
According to city documents, Peoria and Par-A-Dice negotiated to resolve the city’s objections and “desire to avoid the risk and expense of costly litigation now or in the future.”
Under the proposed settlement, the city would withdraw its objections to the redevelopment plan and agree to support it. Peoria would no longer contest approval of the plan by the Illinois Gaming Board.
City documents state the parties came to an understanding to resolve the dispute without costly litigation.
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