The Canadian city of Victoria is getting closer and closer to adding in a new casino into the area. The city council decided that there was a large enough market to hold a second casino, and has decided to move forward with the proposal to bring in another casino into the area.
A vast majority of the local population is in support of adding in the new casino. The casino is planned to be built in either the Crystal Garden, Belleville Street, Saanich, or in Esquimalt. This would give people another option when choosing a location to spend their money, as the only other casino in the area is the View Royal Casino.
Of course the View Royal Casino is not so thrilled about the idea and actively is opposed to it. They state that adding in another casino in the area would be devastating for the one that is already in place, creating a significant loss in profits that could ruin it. The View Royal Casino is not in support of the new addition and believes that the easy sign-off by the BCLC is a bit concerning.
The BC Lottery Corp. refuses to release the details behind the decision that there was a large enough market for a second casino in the area, stating that Victoria is large enough to host two casinos. This lack in transparency has become worrisome to many, and has been pointed out by the View Royal Casino. However, The BC Lottery Corporation does plan on releasing the details of the project soon, but want to keep it private for now so that the information doesn’t bring about harm to the BCLC. Releasing this data could have an effect on the market, one that would bring about a negative reflection on profits.
The BCLC states that adding in the new facility will generate $2.5 million annually for the local government, which might explain the opposition that the other casino has to bringing in the new contender. Ten percent of profits earned through casinos are given over to local government hosts as payment for allowing the casino to be placed in their region. This offers a pretty big incentive for cities to allow a casino to be built inside their limits, as it adds more revenue into the system. While $2.5 million seems impressive, it should be noted that the View Royal Casino currently distributes $4 million back into the municipality.
The Victoria Mayor Lisa Help is in full support of the new casino, but does want to make sure that a large area parking lot won’t come with the deal. She would prefer a casino that fits in with the surrounding public that won’t take up an enormous amount of space, and would prefer if the casino used underground parking. It needs to be built like an urban casino and not a suburban casino. Aside from that, she is excited to see the project come to life and bring in more revenue for the city.