Paragon Gaming sells stake in Parq Vancouver casino

Paragon Gaming announced Feb. 1 that it has sold its stake in downtown Vancouver’s casino, hotel and dining resort Parq Vancouver, for an undisclosed amount to PBC Group.

The announcement comes nearly three months after rapper Drake claimed that he was profiled and kept from gambling at the casino.

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The casino's public relations response to the incident came under fire from crisis-management professionals because the casino did not deny that Drake was profiled, even though the casino put out a statement saying that “we categorically stand against racism of any kind.”

Las Vegas-based Paragon had spearheaded the design and development of Parq, along with Ottawa-based PBC Group and Toronto’s Dundee 360Vox. Paragon’s involvement in downtown Vancouver started in 2006, when it acquired Edgewater Casino, the only licensed casino in the city.

It then unsuccessfully lobbied city hall to be able to expand operations.

Nonetheless, Paragon managed Edgewater for more than 10 years before it relocated its gaming operations to Parq Vancouver.

Parq opened on Sept. 29, 2017, after a Coldplay concert. It was about a year behind schedule and roughly $95 million over its original $535-million budget.

The site includes a two-level, 72,000-square-foot casino with 600 slot machines and 75 game tables. It also has a 188-room Douglas Autograph Collection hotel, a 329-room JW Marriott hotel, eight eateries and a 63,000-square-foot conference centre.

Marriott Canada president Don Cleary told Business in Vancouver soon after Parq opened that he was interested in bringing more luxury hotel brands to Vancouver.

gkorstrom@biv.com

@GlenKorstrom

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