Future is unclear for casino-resort development near BC Place
Posted November 17, 2014 2:55 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – The future of a casino-resort development near BC Place is questionable as an expanded review of its operator has been launched.
The Gaming Policy and Enforcement Branch is looking into whether Paragon Gaming is fulfilling its obligations in BC.
David Eby, the opposition critic for gaming, says the review is in addition to one that’s already taking place of the former head of the BC Lottery Corporation, Michael Graydon, who now works for an affiliate of Paragon Gaming.
“The head of the BC Lottery Corporation, which is responsible for regulating casinos in the province, for two months secretly negotiated a job with Paragon to be involved in the development of this casino and that was a violation of provincial conflict of interest rules. So, GPEB announced that they are doing an investigation of the circumstances of Mr. Graydon’s departure, his violation of provincial conflict of interest rules and whether that makes him ineligible to work for a gaming company in British Columbia.”
Eby says the implications for Paragon are pretty serious. “They may not be able to continue to operate the Edgewater Casino if they’re found to be not suitable, in terms of the company, to operate it.”
He says the development is pegged at half a billion dollars, so this review is a big deal and absolutely necessary. “Unfortunately for Paragon, they have a very shaky history in Canada for developing casinos. That’s why, I believe, the investigation is taking place. If it’s not why it’s taking place, it’s why it should be taking place. I think that, I hope that, if the investigation is done properly it will ensure BC taxpayers are protected and ensuring that the company that does build at BC Place has the financially knowledge to be able to do it properly.”
Eby says there’s a distinct possibility the project could be scrapped if Paragon is found unsuitable to operate in the province.
He adds there has been no timeline given when the review should be completed.
