6 May 2006

Paragon Looking To Run Vancouver Casino

BRITISH COLUMBIA – As reported by the Vancouver Sun: "Vancouver's financially troubled Edgewater Casino could be run by a Las Vegas casino operator by this summer -- making it the first foreign-owned casino in B.C.

"B.C. Lottery Corp. vice-president Kevin Gass said Wednesday that Paragon Gaming is seeking provincial approval to manage Edgewater Casino, located at the Plaza of Nations.

"Edgewater Casino owners Gary Jackson and Len Libin filed for court protection from creditors this week, listing about $30 million in liabilities. Gass confirmed they have reached a purchase agreement with Paragon after months of discussions.

"…Gass said Paragon has applied to be registered by the provincial gaming policy and enforcement branch in order to buy Edgewater.

"…Paragon is a developer and operator of several casinos in the western U.S. and has often developed projects on First Nations properties. It is currently developing two major casino projects in Alberta -- a $180-million resort on Enoch Cree Nation reserve land near Edmonton and a $50-million project near Whitecourt…"

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