Canadian operator Paragon Gaming is to develop a new $450m hotel and casino complex in Vancouver as part of plans to boost tourism to the region.
The 680,000sq.ft complex attached to BC Place stadium is expected to create more than 8,500 direct and indirect jobs during construction and ongoing operation. Paragon Development has agreed a 70-year lease for the site following an intense bidding process.
"This project will create literally thousands of jobs and be an important generator of tourism and economic activity for Vancouver and the entire province," said Premier Gordon Campbell. "During the Olympic Winter Games the streets of Vancouver were alive with the Olympic spirit - and we hope this entertainment complex will help recapture some of that excitement."
David Podmore, chair of BC Pavilion, added: "This unique development will further enhance the new BC Place as a world-class facility. In addition to gaming revenues for both the province and the city, this complex brings additional economic benefits in both tourism and event opportunities."
The new facility, which will include two branded hotels and a casino, is expected to generate $130m in gaming revenues to be distributed throughout the province in the first year. Construction is due to begin in early 2011 and be completed in 2013.
