After a decade of debates, Parq Vancouver opened its doors on September 29th, 2017. Construction for Parq Vancouver cost around $640 million. Making it one of the most expensive casino projects built in Canada. An impressive building Parq Vancouver houses a casino, two luxury hotels, and restaurants.
A little over a year later and Parq Casino is in big trouble. Instead of doing what most casinos do which is make money. Parq Vancouver is losing money. Recently, the casino posted losses of $108 million dollars.
Who is to blame?
Parq Casinos management has blamed British Columbia’s new regulations.
“At Parq Vancouver, the ramp-up of operations proceeded at a slower than anticipated pace and continued to be exacerbated by the recent implementation of anti-money laundering initiatives which are having an adverse impact on the gaming industry in British Columbia,” – CEO Johnathan Goldman