New $450m. casino planned for Vancouver
A new 680,000-square-foot entertainment complex attached to Vancouver’s BC Place stadium will feature a US$450 million, 107,000-square-foot casino.
Assuming it obtains municipal approval, the casino, which will be British Columbia’s largest, will be built next to a renovated BC Place and will be operated by Paragon Gaming, a unit of Las Vegas-based Paragon Development, which will close its Edgewater Casino in the city’s False Creek waterfront area. The stadium is being fitted with a new retractable roof, electronic scoreboard and other upgrades in totaling $563 million and expected to be completed in 2011. Construction of the casino is scheduled to begin in 2011, with completion projected for 2013.
The casino is expected to generate up to $130 million in gaming revenues, which will be distributed to the province in the first full year. It is expected to create more than 3,200 direct and 2,200 indirect jobs during construction and an estimated 1,900 direct and 1,300 indirect jobs when it is up and running.
BC Place is envisioned as a centerpiece of a more vibrant downtown Vancouver and also will contain two international hotels, retail stores, restaurants and more. It is the largest sports, exhibition and entertainment venue of its kind in British Columbia and hosted the opening and closing ceremonies of the 2010 Olympic Winter Games. When it reopens next year it will be the home for a Vancouver MLS franchise and will continue to host the BC Lions Football Club.
Paragon Development operates casinos in western Canada, including River Cree Resort outside of Edmonton, Alberta.