Casinos in Alberta - Alberta Gambling Research Institute - University ...
Casinos in Alberta - Alberta Gambling Research Institute - University ...
Casinos in Alberta - Alberta Gambling Research Institute - University ...
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Palace Cas<strong>in</strong>o (Edmonton)<br />
2710, 8882 – 170 Street<br />
Edmonton, AB<br />
T5T 4J2<br />
(780) 444-2112<br />
CASINO WEBSITE:<br />
http://www.palacecas<strong>in</strong>o.com/<br />
SIZE: 64,000-square-feet<br />
GAMING TABLES: 31*<br />
SLOT MACHINES: 706<br />
(<strong>in</strong>cludes “electronic<br />
games”)*<br />
POKER ROOM: YES (7-<br />
table)<br />
AMENITIES: A high limit<br />
table gam<strong>in</strong>g area with a<br />
lounge and a 24-hour private<br />
poker room with five tables.<br />
The cas<strong>in</strong>o also houses a full<br />
service steak house, as well as<br />
a lounge, a deli and a live<br />
enterta<strong>in</strong>ment stage viewable<br />
from around the cas<strong>in</strong>o.<br />
* Gateway <strong>Cas<strong>in</strong>os</strong> Fact Sheet,<br />
December 2006<br />
DESCRIPTION<br />
The Palace Cas<strong>in</strong>o is located <strong>in</strong> the 5.3 million square-foot West Edmonton Mall,<br />
one of the world's largest shopp<strong>in</strong>g and enterta<strong>in</strong>ment centres. West Edmonton<br />
Mall attracts <strong>in</strong> excess of 22 million local visitors and tourists per year.<br />
In August 2001, the cas<strong>in</strong>o underwent a $12-million, 36,000 square foot<br />
expansion and renovation and now encompasses a total of 66,000 square feet on<br />
two levels. It features an art deco theme and <strong>in</strong>cludes six hand pa<strong>in</strong>ted murals.<br />
HISTORY<br />
The Palace Cas<strong>in</strong>o is one of the longest-runn<strong>in</strong>g cas<strong>in</strong>o operations <strong>in</strong> Edmonton,<br />
hav<strong>in</strong>g started as a 10,000-square-foot facility <strong>in</strong> April 1990. At that time it was<br />
owned by a consortium of 69 charities and managed by former construction<br />
<strong>in</strong>dustry executive Howard Worrell.<br />
In 1998 when the Palace was consider<strong>in</strong>g an expensive expansion, the charities <strong>in</strong><br />
the consortium were asked if they wanted to spend the money or sell. In<br />
September 2000, they sold the Palace to Gateway, which then owned three<br />
cas<strong>in</strong>os <strong>in</strong> Burnaby, New Westm<strong>in</strong>ster and Vancouver's Ch<strong>in</strong>atown. The<br />
rumoured sell<strong>in</strong>g price was $8 million, giv<strong>in</strong>g the former owners, the charities, an<br />
almost 300-per-cent return on their orig<strong>in</strong>al <strong>in</strong>vestment.<br />
RECENT EVENTS<br />
In October, 2006, the River Cree Resort and Cas<strong>in</strong>o opened on the Enoch reserve<br />
just west of the City of Edmonton. In November, 2006, the Century Cas<strong>in</strong>o and<br />
Hotel opened <strong>in</strong> northeast Edmonton.<br />
The cas<strong>in</strong>o at West Edmonton Mall operated on a reduced basis s<strong>in</strong>ce a<br />
September 9, 2006 strike by members of the United Food and Commercial<br />
Workers.<br />
On July 1, 2005, a ban on smok<strong>in</strong>g <strong>in</strong> bars, cas<strong>in</strong>os and b<strong>in</strong>go halls <strong>in</strong> the City of<br />
Edmonton came <strong>in</strong>to effect. Despite the ban, 2005 revenue rose by 4.7%<br />
compared to 2004. It was expected by management that the ban would lead to an<br />
immediate decl<strong>in</strong>e <strong>in</strong> revenue of up to 15%, but the overall impact was much<br />
less, with a return to pre-ban revenue levels anticipated early <strong>in</strong> 2006.<br />
OWNERSHIP & MANAGEMENT<br />
The Palace Cas<strong>in</strong>o is owned by the Gateway <strong>Cas<strong>in</strong>os</strong> Income Fund<br />
(TSX: GCI.UN) and is<br />
headquartered <strong>in</strong> Burnaby, British Columbia. Gateway <strong>Cas<strong>in</strong>os</strong> Income Fund is<br />
one of the largest cas<strong>in</strong>o operators <strong>in</strong> Western Canada. The Fund provides<br />
management services to Gateway <strong>Cas<strong>in</strong>os</strong> Inc. and also operates 7 cas<strong>in</strong>os <strong>in</strong><br />
B.C. and <strong>Alberta</strong>. They <strong>in</strong>clude the Burnaby Cas<strong>in</strong>o <strong>in</strong> Greater Vancouver, B.C.,<br />
Cascades Cas<strong>in</strong>o <strong>in</strong> Langley, B.C., Palace Cas<strong>in</strong>o, and the Lake City <strong>Cas<strong>in</strong>os</strong> <strong>in</strong><br />
Kamloops, Kelowna, Penticton, and Vernon, B.C.<br />
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