Tuesday, January 02, 2007

Destination Casino

Don Quixote Note:
Who is right: BCLC or Gateway Casinos Income Fund. Is Pentiction a DESTINATION CASINO as stated by BCLC or a Community Casino as stated by Gateway ?
(despite 3 requests to BCLC over the last 2 month, I have yet to receive an answer.)

AB Gaming
Destination casinos are new casinos approved in principal in fiscal 1998/99 through the Government’s Request for Proposal process. For destination casinos, net income is divided, with two-thirds going to the Government of British Columbia, one-sixth to the host local government, and one-sixth to the casino proponent for Development Assistance Compensation.
B.C. Destination Casino Listing (4) Lake City Casino (Penticton) 21 Lakeshore Drive West Penticton, B.C. V2A 7M5 Phone: (250) 487-1280 Fax: (250) 493-0607 URL:
http://www.lakecitycasinos.com/penticton.php Service Provider: Lake City Casinos Ltd.

Gateway Casinos Income Fund
10. What is a destination casino?
A destination casino is generally defined as a large-scale casino that is typically marketed to non-local tourist market. The Strip casinos in Las Vegas are examples of destination casinos.
11. Are Gateway’s casinos destination casinos?
No. Gateway’s casinos are all community casinos and are marketed primarily to the local population. The majority of our customers live within 15 kilometres of our casinos.

About the Fund The Fund is an unincorporated, open-ended limited purpose trust established under the laws of British Columbia, which operates the Burnaby Casino and Cascades Langley Casino and Hotel in Greater Vancouver, BC, the Palace Casino in Edmonton, Alberta and the Lake City Casinos in Kamloops, Kelowna, Penticton and Vernon, BC. Headquartered in Burnaby, BC, the Fund is one of the largest casino operators in Western Canada.

BCLC
BCLC’s casino network includes 13 community casinos, four destination casinos and one racetrack casino that operated a total of 7,149 slot machines and 454 table games in fiscal 2005/06. The casino market in British Columbia is close to being fully built out. BCLC will continue to increase the entertainment value for the player and positioning casinos in British Columbia as an entertainment option for out-of-province tourists.

DESTINATION CASINOS
Casino of the Rockies Lake City Casinos Investments Ltd.Cranbrook11,747,137 2251,037,861 912,784,998 11,771,355 Jack o' ClubsJack o' Clubs Gaming Hall Ltd.Wells 56,696 80$ –– 56,696 70,828 Lake City Casino Penticton Lake City Casinos Limited Partnership Penticton21,984,308 2241,542,408 1023,526,716 21,434,225 Royal City Star Casino Star of Fortune Gaming Management (BC) Corp.New Westminster19,879,683 3417,271,010 1827,150,693 35,016,477

Penticton Lake City Casinos(d)2,359,976 2,166,128
c = community casinos (10% share) d = destination casino (one-sixth share)

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