Casino operator Paragon Gaming has begun construction on a long-planned $600m hotel-casino complex in Vancouver, Canada.
Scott Menke, president of Las Vegas-based Paragon, said the development, called Parq Vancouver, is fully financed and will be British Columbia’s largest private development. It is expected to open in 2016.
Paragon, which took over management of the Westgate Las Vegas this month, has been involved with the proposed Vancouver project for more than five years. The development is adjacent to the 60,000-seat BC Place Stadium, but faced strong local opposition.
“Vancouver is one of the world’s most desirable travel destinations and this remarkable property will not only reinvigorate part of downtown Vancouver, but also provide visitors and residents with an entertainment destination that rivals the best anywhere,” Menke said.
The Vancouver City Council rejected the casino in 2011 after residents voiced their displeasure. However, the project was revived in 2013 when the city and Paragon agreed to a scaled-back proposal that reduced the scope of development. The lease agreement included a 70-year term with $3m in annual payments.
A key to the project’s revival was a reduction in size of the casino from 1,100 slot machines and 200 table games. The new casino is 72,000sq.ft with 600 slot machines and 75 table games.
Paragon operates the Edgewater in Vancouver, which will be closed. Parq Vancouver will have the only casino in the city and will be the largest casino in western Canada.
