Thursday, March 28, 2024

Phase one complete, Victoria or Saanich to host new casino

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Back in early October, BCLC asked six Greater Victoria communities if they would be interested in hosting a gaming facility, smaller than the View Royal’s location. At that time, five communities expressed interest.

The first phase of evaluation is now complete and only Saanich and the City of Victoria will proceed to the next stage. The corporation says it will now work with both municipalities to determine which community will be best suited for a casino.

Based on a recent market assessment, BCLC identified a marketplace opportunity for an additional gaming facility in Greater Victoria that would complement the existing View Royal Casino,” reads a statement.

An important determinant in choosing a gaming facility site is the minimizing of any impact on surrounding gaming facilities, e.g. the View Royal Casino. Drive times from the View Royal Casino may be considered in the evaluation of potential location.

As part of phase two, BCLC will release information about the proposed size and scope of a gaming facility including:

  • Differences between casinos and community gaming centres
  • Land requirements for a gaming facility
  • A potential range of the number of slot machines and table games at the facility
  • Site revenue projections, and potential revenue from gaming to the host local government

The two types of gaming facilities being considered for Greater Victoria are:

Community Gaming Centre

A combination of bingo (or electronic bingo), slot machines, traditional lottery products, restaurant, lounge, tele-theatre and a small stage for live entertainment performances.

Casino

A full-service gambling entertainment facility with slot machines and table games. Additional amenities at casinos may include restaurants, lounge, theatre, conference centre, hotel, spa and a stage area for live entertainment performance.

The gaming floor being considered is in the range of 15,000 to 30,000 square feet and will have a minimum of 400 parking stalls.

BCLC estimates the annual revenue can range from  $30 million to $45 million. 10 per cent share of the net income generated by that facility will go to the hosting community with a projected revenue of $1.8 million to $2.5 million annually.

View Royal’s casino generated $69.3 million in revenue in 2014-15, down from $70.4 million the previous year, BCLC figures show.

No official time frame was given when the “winning” community will be announced.

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Victoria Buzz Staffhttps://www.victoriabuzz.com
Your inside source for Greater Victoria happenings. Established in 2012.

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