A proposed C$450 million (US$461 million) expansion of Edgewater Casino could bring an additional 450,000 visits and C$150 million in revenue to the Vancouver property, according to owner Paragon Gaming and the British Columbia Lottery Corp., which oversees all gaming operations for the province.
Edgewater casino currently attracts 312,000 visits and C$120 million in revenue per year.
The new Edgewater Casino would be built at BC Place, which is across the street from the casino’s existing location. Plans call for the construction of a 1.2 million-square-foot casino with 1,500 slots and 150 table games, making it the largest casino in western Canada. The property will also include two 650-room hotels, 30,000 square feet of meeting space, restaurants, bars and a cabaret/multipurpose entertainment space. The project, which is subject to regulatory approval, is scheduled to open in 2013.
Despite the support of the BCLC, the property has had a hard time gaining approval due to local fears that it will cannibalize other businesses and make the city the “Las Vegas” of Canada, according to theVancouver Sun. Paragon ownership recently gave assurances that the proposed project would create 2,000 permanent jobs, provide $23 million to the province each year in revenue share and property tax, and bring urban renewal and an increase in land values to the surrounding area.
Proposed Vancouver casino will boost revenue, visitor numbers
March 3, 2011