Bruce Constantineau
Sun
Las Vegas-based casino operator Paragon Gaming — the new owners of the Edgewater Casino in downtown Vancouver — will endeavour to reverse the financially troubled casino’s fortunes by taking several steps over the next few months to boost attendance at the 18-month-old facility, Paragon vice-president Yale Rowe said Tuesday.
Paragon paid $42 million to buy the casino last week from original owners Gary Jackson and Len Libin and become the first foreign owners of a B.C. casino. The Edgewater operation, located in the Plaza of Nations, was about $30 million in debt when it filed for court protection from its creditors four months ago, and the sale means creditors will be paid in full.
Rowe said Paragon plans to increase business at the casino by:
– Enhancing exterior signage.
– Upgrading food and beverage operations.
– Ensuring casino facilities reflect the city’s multicultural makeup.
– Improving the mix of gambling options.
– Increasing parking facilities.
– Increasing casino entertainment. options by adding comedy festivals, concerts, and community and cultural events.
Rowe said Paragon is already working with city officials to find a way to improve signage at the casino without being gaudy or overbearing.
“They really don’t want to see some casino come in and start blasting these big Vegas signs all over the place,” he said in an interview. “But they understand the need to hang your shingle out front so folks will know you’re in business. Right now, there’s very low curb appeal.”
Rowe said the new owners plan to change the casino kitchen so they can improve food offerings and create more of a destination food environment than the “quasi snack bar” that exists now.
They also plan to increase the number of table games at the casino, and increase the number of poker tables from four to 10.
Paragon has a lease to operate the casino at its current location until 2013, but it could relocate sooner than that if it decides to expand into more of a destination-resort complex, with a hotel and other facilities.
“We haven’t mapped out our long-term plan yet, but we’d certainly like to expand on what’s there,” Rowe said.
Paragon chief executive officer Diana Bennett, daughter of the late legendary Las Vegas casino operator and Circus Circus co-founder William Bennett, said she wants to make Edgewater the “premier destination casino” in the Vancouver market.
Paragon operates casinos in the western U.S., and is currently developing two projects on First Nations properties in Alberta — the River Cree Resort & Casino in Edmonton, and the Alexis Casino and Travel Plaza in Woodlands County.
© The Vancouver Sun 2006
