Vancouver casino being blocked may lead to gambling action
In case that a casino expansion next to the B.C. Place in downtown Vancouver is rejected, the B.C. Lottery Corp. may strive to expand on its gambling business in other cities such as Port Moody, Surrey or Abbotsford. Michael Graydon, the CEO of the gambling house, made it clear that the priority of the corporation is the Edgwater casino plan which includes 150 tables and 1,500 slots. However, the company also has its eyes on considering other sites which could be tapped in to generate revenues worth around $300 million every year that the gamblers of the mainland are believed to be capable of spending.
He told the press that in the case of the casino not being approved, the lease that the corporation has on the facility that exists will end in 2013 and they will be compelled to review options for whatever course may lie ahead. And after taking away Vancouver from the venue list, they will be left with the options of the other municipalities in the GVRD and the areas that surround it as their potential options.
It has been indicated by the company that the development could mean the expansion of casinos and the community gaming centers or construction of completely new facilities. According to Graydon, Surrey has approved a community gaming center already, however no construction is about to start anytime soon. He also added that communities such as Port Moody and Abbotsford have approached he corporation looking for the potential options for the expansion of gaming in those markets. The revenues earned by Edgewater are around $120 million a year, and Graydon says that these will rise to $ 270 million after the expansion.
Also, an aggressive marketing campaign would be pursued by Paragon Gaming in order to attract international players which could lead to an additional $100 million in revenue in a couple of years, he added. The suggestions which said that the existing gamblers and revenue from the Metro Vancouver casinos would be drained and the flow of the share of profits into the host city would reduce were rejected by Graydon as improbable.
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