Legalized gambling is one of the “steady earners” for all levels of government involved, so I’m sure this news isn’t being looked at too favorably.
Contrary to popular belief, the gambling industry is not immune to recession and Great Canadian Gaming is starting to feel it.
The Richmond-based company that operates 10 casinos and five race tracks in B.C., Ontario, Nova Scotia and Washington state, including Island casinos in View Royal and Nanaimo, has cut back its hours and laid off staff at all operations and at every level of the company. That has been done to deal with what it calls the uncertainty of the current economic situation.
I think the article points fairly heavily to the fact that the gaming centre in Castlegar may not be the money spinner that City Council believes it will be. Admittedly, any new venture has a novelty period, so even if the gaming centre is “sucessful”, the longer term benefits might not be forthcoming.