Gaming revenue at Chances Squamish has been falling since the end of its first year in operation.
On February 1, 2010 11 days before the start of the Vancouver 2010 Winter Olympics the projects partners B.C. Lottery Corp., Boardwalk Gaming and the Squamish Nation cut the ribbon to the casino. At the time, then-Squamish Nation Coun. Dale Harry said the casino represented opportunities for employment, entertainment and an attraction for people who drive by on the highway.
Squamish Chances has added to the community's nightlife, but its gaming revenue has dropped $460,000 since its first year. In 2010-'11, the BC Lotto Corporation's annual service plan report noted Squamish Chances generated a total gaming revenue of $4.768 million, compared to the $4.3 million it brought in last year. This translates to less cash in the Squamish Nation's coffers. Annually, the casino is required to give the Nation 10 per cent of the net gambling revenue which equalled $237,000 last year.
Gaming revenue isn't the only benefit the Squamish Nation sees from the casino, Squamish Nation spokesperson Christopher Lewis told The Chief.
It has been a good revenue stream because we get a little bit of revenue from the rent too, he said.
Squamish Chances employs local people and the casino is a big sponsor of sports teams, Lewis said. The business does outreach not just in the Squamish Nation community, but also in the community, he said.
The Nation is looking to diversify the facility, Lewis noted. Last December, the casino welcomed a new eatery and public house, The Match. There is a native art gallery in the building's entrance and the casino has also introduced online horse race gambling.
[Squamish Chances] is a contributor to the Squamish Nation and to the town of Squamish, Lewis said.
In 2011, Chances Boardwalk Squamish changed its name to Chances Squamish. The ownership also switched hands, from Boardwalk Gaming to Gateway Casinos and Entertainment Ltd.
