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Paragon Cuts Down Slots Proposal, Still Eyes Luxurious Marriott in Downtown Vancouver

Posted on April 14th, 2011

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The final hurdle to opening the joint casino project by Paragon Development and Marriott International rests on the hands of the Vancouver City Council, this after Paragon and Marriott completed a public hearing that took longer than usual. The proposed Marriott expansion costs a hefty $500 million and has been seeing roadblocks left and right particularly due to regulation hiccups. The last development required a last minute proposal by Paragon Gaming to slash its initial proposal for the number of slot machines as well as a heads-up of the potential delay in the construction of one hotel adjacent to the casino facility.

The public hearing was the longest in recent memory and called into the stand a total of 145 speakers to air their views on the subject. It took a total of three and an entire weekend and was essential to the city council’s requirement prior to coming up with a decision on the proposal. The final version of the casino proposal contained 1,200 slot machines, cut down from the 1,500 contained in the original plan. The remaining 300 will be installed after a waiting period of two years during which Paragon will instead concentrate on completing the two hotels of 600 combined rooms next to BC Place. The concession was primarily because Paragon listened to the plea by local residents to ensure that job creation and tourism are promoted as key goals for the building project.

Scott Menke, however, adds that delaying the 300 slot machines would also likely entail a delay in the construction of one of the two proposed hotels. Menke mentioned in line with requirements from financial backers and investors who want a full package rather than a phased approach. “At this slot machine number, the second hotel development may need to be phased to ensure the economics of the project remain viable,” says the amendment released by Paragon and Marriott International shortly after the conclusion of the public hearing. The original plan would have put the J.W. Marriott and the Autograph Collection Hotels on-site and online by 2013 and will serve as the complement to the proposed Edgewater Casino.

Menke was also quick to laud the similarities between Marriott International and Paragon Gaming going as far as to cite reasons why the partnership is only expected to be successful. “These two properties will be the pinnacle of good taste, exceptional service and beautiful design,” Menke said in a statement. “We’ll continue to work closely with Marriott to develop the perfect hotels for Vancouver – maintaining the integrity of local culture and providing a perfect destination for visitors from abroad.” Menke also cited the rationale behind the immediate change in plans following the results of the hearing. “Whenever you go into five days’ worth of meetings with city staff and council and all the people out there, what we were trying to do as good corporate partners is show our flexibility and reinforce some of the questions that came up during all those hundreds of speakers,” he said.

Marriott and Paragon already has an existing partnership in the form of the River Cree Casino in Edmonton, Canada. Protestors were quick to point out the strategy by Paragon and how they perceived it to be not aligned with their interests, although it’s worth mentioning that protestors were not willing to offer any concessions. “If they really listened to concerns, they would put aside plans for any expansion at all,” says Sandy Garossino of Vancouver Not Vegas. “Apart from people who had a direct financial interest in the project, the public was almost unanimously opposed to this application,” adding that the length public hearing seemed like a Hail Mary pass.

Menke clarified that Paragon was only interested in bringing the best options to Vancouver and making sure the proposal had enough components to make the city an attractive gambling destination in the north. “There was some question as to not only the brands but the sizing of the hotels and the power that we were going to bring to the marketplace,” Mr. Menke said. “Marriott is the No. 1 hotel brand in the world, they reach into the Asia Pacific – the brands they are allowing us to work with we’re very excited about continuing to let the story unfold.” The final say will come from the council which will vote on the proposal on April 19.