Industry Reports

Parq Vancouver Casino and Non-Gambling Facilities Remain Major Drivers of City’s Economic Development

Since its opening, Parq Vancouver, the new international entertainment destination in downtown Vancouver, has been associated with the casino facility offered there. However, as the owners of the complex have always highlighted, the place offers much more than that, especially considering the fact that two Marriott-branded hotels, the Douglas, and JW Marriott, are part of the complex.

The project has been compared to similar type of properties in Las Vegas, but the owners have already emphasized on the fact that the destination had been planned as the Vancouver version of such a high-end casino and hotel complex. Of course, the gambling element remains as a crucial part of the whole experience offered at the Parq Vancouver but it turned out that it was far from being the only source of income for the owners of the property.

Despite some concerns associated with the possible impact of the casino opening to problem gambling rates in the region, the place has reiterated its intentions to promote responsible gambling. Ever since its grand opening on September 29th, 2017, the destination has been offering the only casino in downtown Vancouver because the rest of the casinos are all situated in outer parts of the city.

The Only Casino in Downtown Vancouver Opened in September 2017

As mentioned above, the casino and leisure resort development project officially opened doors at the end of September 2017. The complex, situated on 775,000 square feet, features a 72,000-square-foot casino which offers 600 slot machines and 75 gaming tables.

Situated at the very heart of the city of Vancouver, the hotel and casino resort opened about a year later than initially projected, Parq Vancouver has been planned as a major entertainment destination in the region. Previously, Paragon Gaming LLC which made a major investment in the resort, frightened the competition with the announcement of the casino complex’ opening, with casino rivals claiming that the gambling venue would hurt their performance, and anti-gambling campaigners insisting that a large casino venue in downtown Vancouver could boost problem gambling.

As previously revealed by Casino Reports, a few months since the beginning of operation, representatives of Parq Vancouver’s competitive casinos shared that no slowdown or earnings decline was registered after facing the competition. The Chief Executive Officer of the Great Canadian Gaming Corporation (GCGC), Rod Baker, also confirmed that the profitability of its gambling facilities was not hurt by Parq Vancouver.

Apart from the fact that the hotel and casino complex has been pointed as the engine of Vancouver’s economic development, Parq Vancouver casino has become one of the largest employers in the city, and the highest-paying one, as well.

February 2018 saw the Parq Vancouver casino workers represented by Unifor Local 3000 ink a collective contract for a period of three years. Under the collective agreement, the employees are guaranteed a wage increase of no less than 27.5% over the first year of the venue’s operation and a 2% increase in each of the following two years.