Expansion on the Horizon for Vancouver's Parq Casino, Adding 300 Slot Machines to Its Gaming Floor
Parq Casino Proposes Expansion to Meet Growing Demand
Vancouver's Parq Casino has submitted an application to increase its gambling operations, aiming to meet the demands of a growing city and rising tourism. The proposed expansion would see the addition of 300 slot machines, bringing the total to 900.
The city's population has grown significantly over the past two decades, with Vancouver now home to around 700,000 residents, up from approximately 560,000. The wider region has also seen a similar increase, growing from 2.1 million to over three million. This growth has put pressure on local gambling facilities to cater to the needs of a larger population.
The Parq Casino, which replaced the former Edgewater Casino at the Plaza of Nations, currently operates with 600 slot machines and 75 table games. The casino estimates that around two-thirds of gambling revenue from Vancouver residents is spent at casinos outside the city.
If approved by the City, the expansion would be implemented gradually over one to two years. The casino currently occupies 72,000 square feet across two floors, with the second level boasting a particularly spacious layout.
The application mentions that the space could support up to 1,200 slot machines, but such an expansion is not being considered at this time. The existing floor space designated for gaming is sufficient to support a 50% increase in slot machines (up to 900).
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. 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.
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. However, there is no available information regarding Vancouver's potential to generate additional tax revenues from the future expansion of the Parq Casino Vancouver for the years 2025 to 2027.
The casino's expansion comes at a time when the demand for gambling operations is increasing due to the city's growth and rising tourism. The proposed expansion aims to meet this increased demand while generating additional revenue for the City of Vancouver.
The Parq Casino's proposal is currently under review by the City, and a decision is expected in the near future. If approved, the expansion would mark a significant step in the development of Vancouver's gambling industry.
