gambling in alberta - Research Services - University of Lethbridge
gambling in alberta - Research Services - University of Lethbridge
gambling in alberta - Research Services - University of Lethbridge
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Infrastructure Value<br />
The private sector is also responsible for add<strong>in</strong>g to the wealth <strong>of</strong> Alberta via the capital<br />
<strong>in</strong>vestment it has made <strong>in</strong> cas<strong>in</strong>o properties. As documented <strong>in</strong> Table 55, this has amounted to<br />
well over $573.3 million. The true figure would likely be 2 to 3 times higher than this if the<br />
capital <strong>in</strong>vestment was calculated <strong>in</strong> current dollars and all <strong>of</strong> the capital costs <strong>of</strong> all the venues<br />
was known.<br />
Table 55: Capital Investment <strong>of</strong> Alberta Cas<strong>in</strong>os.<br />
Cas<strong>in</strong>o Initial Cost Year<br />
Expansion<br />
Costs<br />
Year(s)<br />
Baccarat Cas<strong>in</strong>o $2,200,000 1996<br />
Boomtown Cas<strong>in</strong>o $800,000 1994 N/A 2000; 2006<br />
Camrose Resort Cas<strong>in</strong>o $20,000,000 2007<br />
Cash Cas<strong>in</strong>o Calgary N/A 1980 N/A N/A<br />
Cash Cas<strong>in</strong>o Red Deer N/A 1995<br />
Cas<strong>in</strong>o Calgary N/A 1997 $5,000,000 2004<br />
Cas<strong>in</strong>o Dene $11,000,000 2007<br />
Cas<strong>in</strong>o Edmonton N/A 1986<br />
Cas<strong>in</strong>o <strong>Lethbridge</strong> N/A 1993 $10,000,000 2004<br />
Cas<strong>in</strong>o by Vanshaw N/A 1996<br />
Cas<strong>in</strong>o Yellowhead $16,000,000 2000<br />
Century Cas<strong>in</strong>o & Hotel $35,800,000 2006<br />
Deerfoot Inn & Cas<strong>in</strong>o $40,000,000 2005<br />
Eagle River Cas<strong>in</strong>o & Travel Plaza $63,500,000 2008<br />
Elbow River Cas<strong>in</strong>o N/A 1989 $35,000,000 2005<br />
Gold Dust Cas<strong>in</strong>o N/A 1994 $6,000,000 2010<br />
Great Northern Cas<strong>in</strong>o N/A 1999 N/A 2003<br />
Grey Eagle Cas<strong>in</strong>o & B<strong>in</strong>go $40,000,000 2007<br />
Jackpot Cas<strong>in</strong>o N/A 1997 $1,500,000 2006<br />
Palace Cas<strong>in</strong>o ~$2,700,000 1990 $12,000,000 2001<br />
River Cree Cas<strong>in</strong>o & Resort $178,000,000 2006<br />
Silver Dollar Cas<strong>in</strong>o N/A 1996 N/A<br />
Stampede Cas<strong>in</strong>o N/A 1969 $44,000,000 2008<br />
Stoney Nakoda Enterta<strong>in</strong>ment Resort $60,000,000 2008<br />
Sources: Alberta Gam<strong>in</strong>g <strong>Research</strong> Institute: Alberta Cas<strong>in</strong>os.<br />
Changes <strong>in</strong> the value <strong>of</strong> neighbour<strong>in</strong>g property is another potential impact <strong>of</strong> new cas<strong>in</strong>os.<br />
Most studies that have looked at this issue have tended to f<strong>in</strong>d a positive or neutral effect <strong>of</strong><br />
new cas<strong>in</strong>os on neighbour<strong>in</strong>g property values (Williams, Rehm, & Stevens, 2011). A thorough<br />
empirical analysis <strong>of</strong> property value change was not done as part <strong>of</strong> this study. However,<br />
accord<strong>in</strong>g to a top 10 perform<strong>in</strong>g Calgary realtor who has been <strong>in</strong> real-estate for 35 years, she<br />
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