Casino in Vancouver, Parq, contemplating growth, plans to add 300 slot machines.
Parq Casino Seeks Expansion to Meet Growing Demand and Increased Revenue for Vancouver
Parq Casino Vancouver has submitted an application to expand its gaming facilities, aiming to increase its slot machine count from 600 to 900. The casino's current offerings, occupying 72,000 square feet across two floors, are insufficient to meet the growing demand, according to the casino's statement.
The proposed expansion comes just a few months after Vancouver's council eased casino restrictions, opening the door for potential growth in the gaming industry within the city. If approved by the City, the expansion would be implemented gradually over one to two years.
The casino estimates that around two-thirds of gambling revenue from Vancouver residents is spent at casinos outside the city. By expanding, Parq Casino hopes to retain a larger portion of local gambling revenue, thereby boosting the city's coffers.
Under provincial policy, municipalities receive 10% of the net gambling revenue generated by casinos within their boundaries each year. In the 2023/2024 fiscal year, the City of Vancouver collected $6 million from Parq Casino's revenues. With the proposed addition of 300 slot machines, the City is projected to gain an extra $2.7 million to $3.1 million over the first three years.
Over the past three fiscal years alone, the city earned $19.3 million in combined gambling revenue from both Parq Casino and Hastings Racecourse and Casino. The wider region around Vancouver has grown from 2.1 million to more than three million over the past two decades, and rising tourism has added to the pressure on local gambling facilities.
Parq Casino replaced the former Edgewater Casino at the Plaza of Nations. Since its inception, Edgewater Casino had not increased its number of slot machines since 2005 or its table games since 2007. The last expansion in the region occurred in 2005 at Edgewater Casino, which set a long pause on new increases in slot machines. However, a rezoning application to expand slot machines at Parq Casino is currently in progress, indicating renewed attention to growth at this location after a long period without expansion discussions.
The casino's expansion is aimed at meeting increased expectations and providing a more comprehensive gaming experience for its patrons. The existing floor space designated for gaming is sufficient to support a 50% increase in slot machines (up to 900). However, the application notes that the space could support up to 1,200 slot machines, but such an expansion is not being considered at this time.
The casino's expansion is a significant step towards bolstering the local gaming industry and generating additional revenue for the City of Vancouver. The application is currently under review, and a decision is expected in the coming months.
