A possible agreement between the City of Peoria and the parent company of the Par-A-Dice Hotel Casino was voted down Monday, leaving the city open to contesting plans for a $160 million overhaul of the existing riverboat gambling venue in East Peoria.
During a special meeting, the Peoria City Council voted 5-5 with one absence, rejecting a proposal that would have seen the city annually receive 2.25% of the redeveloped facility’s reported adjusted gross revenue, estimated at around $1.8 million.
That comes on top of the existing 50% split of gaming revenues between Peoria and East Peoria as stipulated in the intergovernmental agreement between the municipalities.
