Langley City is one of the communities enjoying quite the boost provided by its gambling operation and this is happening with the help of Cascades Casino. As it has been recently confirmed, the gaming venue is able to amass some CA$7.6 million to the city coffers thanks to its high popularity and the mandatory 10-percent payments of the net revenue made.
Cascades Casino located in Langley City is one of the preferred venues for gambling by individuals from near and far and this could be easily seen by the slice which goes straight to the city bags. Last fiscal year managed to see an increase of CA$1 million when it comes to gambling revenue allocations to the City. This surge was estimated in comparison to the casino venue’s performance in the previous fiscal year when the casino venue provided Langley city with some CA$6.6 million.
Revenue Increase Guarantees More for City
For every community allowing gambling within its borders, the casino venue is perceived as both a trigger for future development and potential threat due to compulsive gambling tendencies. Langley City has decided a gaming operation could be beneficial for the region and this could be easily seen by the payments generated over the span of the last fiscal year, providing a substantial boost to many projects.
The overall amount of allocations showed an increase in the performance of the gaming venue year-on-year which resulted in the beautification and renovation work across the community. One such project was the renovation of 200th Street crossing the Nicomekl River and the bridge deck which needed to be replaced. Moreover, the local Penzer Youth Action Park also saw an improvement as it witnessed new additions diversifying the existing offerings.
An upwards direction of development when it comes to the casino operation was first seen in Q2 of the fiscal 2017/2018. This is when quarterly revenue of Cascades Langley City saw a significant surge, maintaining figures around the CA$1.9-million mark. Prior to this increase in the quarterly revenue, the location was able to generate anywhere between CA$1.6 million and CA$1.8 million.
Phase Two of Renovation Expected to Be Finished in 2019
Estimations show that the positive direction of development will continue across upcoming quarters of the fiscal year. Deputy Mayor Gayle Martin stated that his increase is more than welcome, but local officials have yet to weigh their options and pick a project which will see financial support. This is set to happen next Wednesday when the Council will host a scheduled meeting open for all ideas and proposals.
Projections for upwards direction of development are justified as renovation works were revealed on November 14. The first phase of this upgrade project brought with itself a brand-new bingo hall at the casino venue, as well as improvement to the Match Eatery and Public House, an attractive venue for boost guests of the hotel and casino patrons.
The improvement also included a fresh look for the hotel rooms available for booking and the event center on site. The second phase of this project is already in progress and it should see results next year, launching operation of Atlas Steak + Fish restaurant. The overall cost of the two phases reaches CA$18 million.
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