Edgewater Casino lease extension rasies questions
The Edgewater Casino applied for an extension of the lease on its current location on False Creek today. The extension, which would run until December 31 2016, comes with the end of the current lease on July 31st of this year looming.
"We are extending our lease at our current location while we explore options for a new home for the existing Edgewater Casino," Paragon Gaming corporate affairs director Tamara Hicks, in a statement to Business in Vancouver said.
The Edgewater Casino’s bid for an expanded, 150 table and 1,500 slot Casino adjoined to BC place was rejected in 2011, but the City permitted the company to move its existing license to the land next to BC place, granting them a 70 year lease.
The lease was opposed in 2011 by anti-Casino group Vancouver not Vegas, who filed a petition with BC Supreme Court to overturn the approval of the relocation of the casino. Earlier this May, the group confirmed in a press release that they will proceeding with legal action against Paragon Gaming, arguing there has been “no public disclosure or public hearing, and that this was “contrary to the BC Gaming Control Act Regulation.”
When reached for comment, Vancouver not Vegas spokesperson, Sandy Garossino questioned the projected progress of the project.
“It just throws into doubt the claims that there is an actual agreement with PavCo… the fact that this is three and a half years… suggests that they are nowhere near breaking ground on the BC Place site.”
Garossino raised concerns about the cost to Vancouver taxpayers. “This thing is going to cost us tens of millions of dollars," she said.
“Its time to actually tell the public the truth about what’s happening with this site.”