Paragon wins initial approval for Vancouver casino project
City leaders in Vancouver, B.C., gave preliminary approval for a casino project operated by Las Vegas-based Paragon Gaming that would be western Canada’s largest gaming facility.
Final approval is still needed next month at a city council meeting that follows a public hearing.
Privately-held Paragon, which is operated by Diana Bennett, won the construction rights for the $450 million Vancouver complex last year. The project would be attached to BC Place, a 60,000-seat stadium in downtown Vancouver.
The project would replace Paragon’s existing Edgewater casino in downtown Vancouver, which is currently the largest gaming hall in British Columbia with 500 slot machines and more than 60 table games.
The new casino would have 1,500 slot machines and 150 table games, as well as two hotel towers and four residential towers.
Currently, the Vancouver gaming market consists of five facilities (including Edgewater) with approximately 1,100 slot machines and 200 table games collectively.
“There appears to be some typical, initial concerns from a few city councilors, particularly related to a possible increase in organized crime activity and a potential spike in gambling addiction,” Union Gaming Group principal Bill Lerner told clients.
A spokesman for the British Columbia Lottery Corp., which would oversee the casino, told the Vancouver Sun he understood the concerns of the council.
“We wanted good questions, and quite clearly going into the public hearing we have to be prepared to answer all of those questions and all those issues,” said Kevin Gass, vice-president of corporate affairs for the lottery. “We’re prepared to do that.”
