BC, economy

Gambling on a new casino

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Like gambling and hotel casinos?

Well you’re in luck!

Vancouver has approved a new hotel casino in downtown to relocate edgewater.

If you love to go to Vegas, but wish they had more rain this is your lucky day!

Earlier today, the City of Vancouver Development Permit Board approved the proposal to relocate Edgewater Casino to a new massive casino-hotel complex on a vacant site located on the southern end of BC Place Stadium next to the Cambie Street Bridge.

Nearly a hundred people attended the public hearing at City Hall, with the majority speaking against the new proposal.

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Snake
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Man takes portraits imitating local real estate ads, pastes himself over realtors’ pictures.

http://happyplace.someecards.com/28212/man-takes-portraits-imitating-local-real-estate-ads-pastes-himself-over-realtors-pictures

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4 years 8 months ago
LL
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casinos are a great way to get ‘satellite’ families contributing some of their fair share to society.

people should support gaming expansion in the lower mainland.

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4 years 8 months ago
Son of Ponzi
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Be prepared.
Macau on the Fraser is coming.

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4 years 8 months ago
Son of Ponzi
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Almost a 1,000 drop in Total Imventory yesterday.
Is this correct?

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4 years 8 months ago
Son of Ponzi
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Son of Ponzi
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Depreciation reports are due now.
Banks and CMHC will require them for financing.

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4 years 8 months ago
Snake
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The Most Important Economic Stories of 2013—in 44 Graphs

http://www.theatlantic.com/business/archive/2013/12/the-most-important-economic-stories-of-2013-in-44-graphs/282193/

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4 years 8 months ago
Snake
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World Will Be 40 Percent Richer By 2018

http://www.thedailybeast.com/articles/2013/12/16/world-will-be-40-percent-richer-by-2018.html

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4 years 8 months ago
Snake
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Toronto housing prices to double over next 25 years, study predicts

http://business.financialpost.com/2013/12/12/toronto-housing-prices-to-double-over-next-25-years-study-predicts/

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4 years 8 months ago
patriotz
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@2: “casinos are a great way to get ‘satellite’ families contributing some of their fair share to society.”

This is just another variation on a familiar theme of casino proponents – that casinos get the bulk of their revenues from “someone else”, not ordinary residents. Time and again it’s turned out to be untrue – that most of the money comes from locals at a high cost to family stability and local business.

The way to get ‘satellite’ families to contribute their fair share is to adopt some common sense legislation and enforcement for income and property taxes.

Twenty years ago the current NDP government proposed a downtown casino and was successfully opposed by a coalition of left and conservative groups. It would appear that the province and city have now hit bottom.

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4 years 8 months ago
hashtag
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Fortunes Acquired Elsewhere Often Get Lost in Real Estate Market Crashes
http://www.investing.com/analysis/is-u.s.-housing-set-for-another-crash-196105

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4 years 8 months ago
hashtag
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Chinese Rock
http://www.youtube.com/watch?v=2xiWjpjRl1Q
Johnny Thunders & the Heartbreakers

i’m livin’ on a Chinese Rock
everything I have is in the pawn shop

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4 years 8 months ago
LL
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>This is just another variation on a familiar theme of casino proponents – that casinos get the bulk of their revenues from “someone else”, not ordinary residents

go to a casino and LOOK at who’s there. case closed.

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4 years 8 months ago
Aleksey
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I guess most of the visitors of this board read the article on CBC from yesterday.
http://www.cbc.ca/news/business/average-home-price-rises-almost-10-to-391-085-1.2465695
One thing I noticed that they closed commenting and deleted all existing comments after couple of hours. The comments were not offensive or rude. They were usual bubble talks that we can see under any article on housing in Canada. What do you think was the reason to remove all comments? I’m kind of puzzled.

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4 years 8 months ago
ILoveCharts
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@Son of Ponzi Says: “Depreciation reports are due now. Banks and CMHC will require them for financing.” It will be interesting to see what the impact is. It should place some downward pressure on prices as people start to realize what the long term costs will be. On the other hand, artificially rosy reports may give people false confidence and may actually increase prices. Two important things to note: 1) Many strata corporations are voting to note get a depreciation report. I almost bought a unit in the fall and that building had voted to not get a report. I am now living in a rental and this building has also voted to not get a report. 2) I doubt the bank will require the reports. Even if they do, I doubt that it will lead to any rejections of… Read more »
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4 years 8 months ago
Ryan
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Gross. what a horrible design.

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4 years 8 months ago
Vous
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there is a lot of opposition liberalization of puritan gambling laws, but a lot of support for liberalization of puritan drinking laws.

ultimately it comes down to this: drinking is the favorite vice of the yellow man, and drinking is the favorite vice of the white man.

people think their own vices are harmless, and the vices of others are harmful.

New liquor rules will allow happy hours and families in pubs

VANCOUVER (NEWS1130) – Premier Christy Clark says minors will soon be allowed in pubs and legions during certain hours.

She says happy hour specials will also be allowed.

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4 years 8 months ago
Softy
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High taxes on vice activiies or government revenue sharing is a great way to raise money for public purposes.

No one is forced to drink or gamble.

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4 years 8 months ago
Softy
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Here is a classic stupid Vancouverite response to an opponent from the comment section of the article:

Get a life loser.. If you don’t like it move to Missions, you live in a world class city, expect development!</blockquote?

Hillarious!

This low level of IQ that is obviously prevalent in Vancouver, will keep real estate price at stupid levels for a stupidly long time.

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4 years 8 months ago
gordholio
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Aleksey: The CBC deleted the comments because it upset their real estate-pushing overlords. I know a bit about media having worked in it for quite some time now, and there’s no question this sort of thing goes on. On another note, I really wanna take issue with a comment made by Reality Check yesterday: “Having said that, if there is a technical correction of 20%, buyers will come roaring back. Its in our nature in the Vancouver area to buy. Everyone here would buy at the right price.” Obviously everyone would buy at the “right price.” But is a 20% drop the right price? Well…that would mean that piece of sh*t view teardown in White Rock would *still* be a million freaking dollars. That mouldy 40-year-old dump in some craphole neighbourhood in Langley would now be, say, $500,000. That hideous… Read more »
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4 years 8 months ago
Teddybear
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Gambling… Buying a condo in Vancouver is a gamble. There is one very nice, 1 bdr condo in the WE, both Mrs. and I like it, can afford it, its a clean building, rental and pet friendly, great location, insuite laundry, with u/g parkade, just perfect for DINKs. It all looks good, so what is the problem? Well, I don’t know who is the builder. We asked the agent. Oh, I don’t know, he says. What is “partial rainscreen? Is it going to be fully rainscreened?” It won’t. Huh! WTF? The building was built in late 80s, so is it going to turn to rot in 10 years??? When we bought our pied-a-terre in Europe we never thought about these problems. But here in Vancouver – it is turning into a nightmare. The Mrs. said last night – this is… Read more »
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4 years 8 months ago
taylor192
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@#14

My strata voted not to get a depreciation report. It is really only of value for buyers and sellers to get an idea of finances. Since we have no units for sale, and haven’t for years, we opted out.

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4 years 8 months ago
ILoveCharts
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@21 taylor192 says:
“It is really only of value for buyers and sellers to get an idea of finances.”

It’s also of value for owners to get an idea of finances so that you can have consistently monthly fees to cover expenses instead of surprise special-assessments.

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4 years 8 months ago
Son of Ponzi
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#14
Bill Good had a couple of experts on strata law a on this morning.
They were saying that it would be difficult to get financing without the depreciation report.

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4 years 8 months ago
ILoveCharts
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@23: Very interesting. That would be the prudent/logical thing for banks to do but I’m not holding my breath.

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4 years 8 months ago
Son of Ponzi
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#17
People working with addicts say that gambling is the hardest addiction to break.

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