VANCOUVER — A $450-million, 680,000-square-foot entertainment complex — which will include two internationally branded hotels, five restaurants and a 110,000-square-foot, 24-hour casino — will be erected adjacent to B.C. Place Stadium in Vancouver.
Las Vegas-based casino operator Paragon Development Ltd., which owns and operates the Edgewater Casino at Vancouver’s Plaza of Nations, will operate the casino under a $6-million annual lease. PavCo, the crown corporation that operates B.C. Place, confirmed it has signed a 70-year lease with Paragon for the two acres of land immediately west of B.C. Place.
The project, expected to be completed in 2013, was announced Friday by Premier Gordon Campbell at a news conference inside the stadium. Paragon president Scott Menke told reporters that that there will be “two internationally branded hotels, one price-conscious and the other of a luxury brand.”
The hotels will have five restaurants between them and the casino will feature 1,500 slot machines and 150 table games. The project is expected to generate $130 million in annual gambling revenue.