Vancouver casino warns of job losses without expansion
Monday, March 14th, 2011In the third day of public hearings on casino expansion in Vancouver, British Columbia (Canada) the owners of the city’s lone casino warned that a denial of their expansion request would result in a loss of jobs for the city. Paragon Gaming wants to expand their current operations. They currently run the only casino in Vancouver, Edgewater Casino and the lease for that casino expires in 2013. They want to open a new destination casino resort three times the size of their current casino and locate it adjacent to BC Palace Stadium.
Paragon’s request for expansion has brought a heated debate, as gambling expansion always does. The City Council is meeting in public hearings to discuss the matter. Now Paragon has upped the ante by warning what will happen if their request is denied. In a letter to the Council, corporate secretary John Cahill said that “The flow of gaming revenues to the city and permanence of over 600 jobs which currently exist at Edgewater are not guaranteed.” In short, if their plan for a new casino by BC Palace is not approved, they won’t renew their lease at the current Plaza of Nations location.
Instead, Paragon – which is based in Las Vegas – would look to build a new casino in another jurisdiction, one that would allow for the expansion plans they have for their future. That would mean a loss of hundreds of jobs in the city of Vancouver.
There had been reports that the landlord of their current casino site, Canadian Metropolitan Properties, has offered to accommodate plans for an expansion on that land. Cahill dismissed that notion, though, saying that CMP made it clear that their priorities are for residential use and a practice hockey rink for the Canucks. Cahill said that makes the current site “unacceptable for Paragon’s long stated plans for developing a destination casino complex in Vancouver.”
