Canadian Casino for Las Vegas Purchase

Published May 14, 2006 by OCR Editor

Canadian Casino for Las Vegas Purchase

The Edgewater, located in Vancouver, Canada, may be bought by a Las Vegas casino operator as soon as this coming summer. It would mark the first time that a US based casino operator would buy and own a Canadian one.

The Canadian gambling industry is largely run by Native Canadians with approval from the government. It has also been said that they have been taking away from the revenues of some of the Canadian land based operations in recent months.

The Edgewater Casino has been showing a loss and may become victim to creditors if it doesn't start to turn profits. There is a good size land based gambling economy in Canada but not all operations are turning a profit. In this case, the venue might be bought by a Las Vegas gambling operation. It would certainly help bail out the business from the clutches of creditors who are waiting to take it over.

Paragon gaming, located in Las Vegas is looking to make the takeover. This would be the first land based venue in Canada owned by a US outfit. William Bennett, a co-founder of Circus Circus and owner of the Sahara Hotel, is said to have connections to the Las Vegas operation and may be involved in the deal.

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