Casino News

Port Moody Mayor Has Casino Venue on His Mind ahead of Property Tax Jump

Port Moody might be well on its way to welcome casino operation in the foreseeable future, as Mayor Rob Vagramov recently pointed out. The possibility of gambling making its way in the area comes as a result of the property tax that could see an increase reaching 5.55 percent. A new casino venue could bring regular allocations generated by its gambling revenue, further boosting the local coffers.

Throughout the years gambling has been one of the approaches with guaranteed success when it comes to amassing revenue and seeing a fresh inflow of cash in a given community. Common practice in times of need is for local officials to consider introducing gambling as a way to make it through a rough patch. Players have the chance to enjoy their preferred pastime activity and the chance to win big, whilst the community benefits from the annual allocations generated as a result of this operation.

Casino Operation Could Offset Higher Property Tax

At the moment there is no gambling operation in the immediate vicinity of Port Moody, resulting in people driving several kilometers in order to reach the nearest casino venue. Hard Rock Casino located in Vancouver gives them the opportunity to participate in a wide variety of gambling activities after a 15-minute drive. There is also Grand Villa Casino Hotel and Conference Center in Burnaby located some 17 kilometers from Port Moody that is also able to offer premium gaming and accommodation experience.

Furthermore, Hastings Racecourse is also another location that has been able to attract local players not only with its live horse racing but also with the slot devices available on site and the game tables offering a lot. Port Moody’s Mayor made it clear that when it comes to the budget for this year, the tax base will have to undergo an expansion. The area could, therefore, benefit from the introduction of a casino venue that would retain players traveling to neighboring communities in addition to their cash.

Mayor Vagramov made it clear that the city should learn from the winning approach of Coquitlam, that has been benefitting from casino operation over the past years. Hard Rock has been able to draw quite the crowd to the region and boost not only the tourism sector but also the city coffers as a result of the regular cash allocations.

Public Feedback Expected until February 12

Even though the idea proposed by the Mayor might sound like a no-brainer to some people, given the booming gambling operation in the region, locals might give it the cold shoulder. It could be recalled that 2011 saw taxpayers vote against the then-proposed casino operation in Port Moody. During that civic election the overall attitude towards gambling appeared to be hostile, but what should be taken into account is that many thins might have changed over the span of the past nearly eight years.

Councilor Steve Milani stated that there is a chance that a casino venue could launch operator in the upcoming years. This is projected to offset the significant impact of the property tax that would witness a considerable surge this spring. However, locals should be aware that the original plan was for it to reach a 7.36-percent jump.

Members of the community have the chance to offer their feedback and chime in with proposals not only related to potential gambling venue but also how the situation could be alleviated. They could do so until February 12 with the help of the online form.