Tech & Biz

BC Premier Campbell: $450 Million BC Place Casino Hotel=8500 Jobs

by Barry ORegan | March 28, 2010 at 06:00 am

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Premier Campbell confirmed a $450 million casino and hotel.complex is to be built on the former Grand Prix site and False Creek waterfront property adjoining BC Place.

Pros of the Casino Project

Supporters of the casino project, feel jobs, businesses, charities and property owners would benefit. Tourism would also see a boom, as would lower mainland taxis to local stores in the area.

The construction of the casino will provide much needed jobs for the construction and service industry with 8,500 jobs forecast.

Casinos typically get a fast return on investment, often within 36 months. The proposed casino is projected to earn close to $130 million annually in gambling revenues.

Cons of the Casino Project

Detractors argue for more affordable housing for the homeless and fear a blight on an already disappearing skyline. Many opponents feel an influx of high rollers and visitors will attract more crime, drugs and prostitution a stone's throw from the Downtown Eastside (DTES) and Chinatown.

Gambling addiction is a disease and more lower mainland gamblers will require increased services to handle their addictions. Monte Carlo, a favoured European gambling destination forbid its citizens from gambling at the local casinos, reserving them for rich out-of-towners.

Many Vancouver taxpayers feel there should be a public consultation re this project, since it is taxpayer money at stake.

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marianmo

at 07:16 on March 28th, 2010

it would be a good thing for BC if the gaming proceeds WERE to go to charities sports groupd etc, but the BC government has slashed funding to these groups. Hopefully the government will restore these much needed funds

Barry ORegan

at 08:23 on March 28th, 2010

One would hope if the public consultation demands it

THanks

Barbara McPherson

at 08:44 on March 28th, 2010

A radio commentator recently likened gambling as a tax on the stupid. Don't hold your breath that the current Liberal government is going to listen to the will of the people. It hasn't shown any inclination to do so yet. The new "harmony tax" is but one example.