Gaming Industry Club

Cascades Casino Has Successful First Year

Cascades Casino shows that the downtown Langley City facility has been successful in its first year.

The profits have been excellent as well. After all, the house always wins a percentage in the gambling business. The casino's revenues were almost $90 million - an astonishing amount of money for a first-year business. This demonstrates the demand for gambling that existed in Langley and surrounding areas.

Profits have exceeded $40 million, with 10 percent of that amount going to Langley City's coffers and a larger amount to Victoria. The windfall has allowed the city to pay down its debt, part of which was accumulated in buying the land the casino now sits on.

One of the concerns raised by opponents when the casino was proposed was that it would attract more criminal elements. This has not been the case. Police have no problems with the casino and in fact are called to nightclubs far more than they are to the casino.

Its presence has also cleaned up an unattractive part of the downtown. Whether many other businesses have noticed widespread spin offs is hard to assess at this point. In the long-term, there certainly should be some benefits.