In 1990, the State of Illinois passed (65 ILCS 5/Art. 8 Div. 12) The Financially Distressed City Law. Under this law, Illinois Governor James R. Thompson provided $34 million in loans to East St. Louis, with the stipulation that an appointed five-member board, called the East St. Louis Financial Advisory Authority, manage the city's finances. In 1990 the state legislature approved riverboat gambling in an effort to increase state revenues. The opening of the "Casino Queen" riverboat casino generated the first new source of income for the city in nearly 30 years.