November 23, 2015 - 2:32 PM
PENTICTON - The City of Penticton and Gateway Casinos and Entertainment have come to an agreement on a new location for the city’s casino.
The new Cascades Casino Penticton will be built on South Okanagan Events Centre property next to the Wine Country Visitor Centre at the corner of Highway 97 and Power Street, taking up existing space in the Events Centre parking lot.
Vice-president of operations Jagtar Nijjar says Cascades will cost $25 million to build and create 200 person years of construction employment, along with up to 150 new jobs when the facility opens in the spring of 2017.
Nijjar says the facility’s enhanced entertainment offerings will include 45,000-square-feet of live music, gaming and multiple dining options, in addition to a rooftop patio.
He says it will be in “a class of it’s own” for entertainment in the South Okanagan.
Penticton mayor Andrew Jakubeit says the city’s goal to secure and enhance revenues with an upgraded casino has been met with the proposal, noting the $1.6 million in hosting revenues generated by the present casino.
He says the new location will encourage those attending events at the Events Centre to “come earlier and stay longer.”
“This truly creates a premier tourist destination for our region,” Jakubeit says, adding the new facility will generate significant new revenues, partly through a lease agreement for building on the city owned property that will result in an annual payment of $250,000 to the city. Upon expiry of the lease, the building will revert to the city.
Construction is expected to begin in 2016 with a grand opening in spring of 2017.
Now with all the cards on the table, the city will beging the approval process.
A number of open houses have been scheduled beginning Nov. 30 from 5 p.m. to 9 p.m. at the Seniors Drop in Centre in Penticton, at the Sandman Hotel on Dec. 1 from 9 am. to 11 a.m. and from 6 p.m. to 8 p.m., and again on Dec. 8 at the Ramada Inn from 1 p.m. to 3 p.m. and 5 p.m. to 7 p.m.
Following consultation with the public, the proposal will come back to Penticton city council for final vote.
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News from © InfoTel News Ltd, 2015