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high end commercial real estate companies vancouver bcEarlier this month, the British Columbia Lottery Corporation (BCLC) announced the approval of a new gambling and entertainment facility in Delta, B.C.
 
Cascades Casino Delta, which will be operated by Gateway Casinos & Entertainment Limited, will include a hotel, restaurants, meeting space and a casino with approximately 500 slot machines, 24 table games and up to six electronic table games. According to a press release, the BCLC said its approval follows extensive reviews of the market opportunity, business case, health impacts and municipal approval process to ensure that the project meets legislated requirements under the Gaming Control Act.
 
The design of the casino reflects feedback from the public, which was received through ongoing community engagement. But, not all parties have been on board with the project, including the City of Richmond, which filed an objection with the BCLC, stating crime, traffic and transportation concerns. This prompted the BCLC's legislative requirement to implement a non-binding dispute resolution process and appoint an independent, third-party mediator to address issues raised in the objection. BCLC received Mr. Simon Margolis’ report on October 15, 2018, which concluded that the City of Richmond did not provide supporting documentation to substantiate its concerns. This information led the BCLC to finalize its approval of the project.
 
Construction at the Delta Town & Country Inn site near the Massey Tunnel will begin in early 2019, and the casino is expected to open in mid-2020.
 
For more information on this development and how it will impact B.C.’s commercial real estate sector, contact our team at Marcus & Millichap in Vancouver to speak with an advisor.
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