In
1997, an expansion of gaming was approved in the province of British
Columbia, Canada. In November 1998, Navegante and Trillium responded
to the government’s request for proposal to design, construct
and operate three separate "destination-style" casino
projects. Each of these casinos will be joint ventured with First
Nation Indian Bands at locations stretching from the Canadian
Rockies to Vancouver Island.
In
May 1998, Navegante/Trillium received its first approval-in-principal
to operate the CDN$12 million Casino of the Rockies project in
Cranbrook. Cranbrook is located in the southeast portion of the
province approximately 60 miles from the US border.
In
August 1998, Navegante/Trillium received its second approval-in-principal
to operate the CDN$8 million Campbell River Casino project in
downtown Campbell River. Campbell River is located on Vancouver
Island approximately 100 miles from the city of Vancouver.
Each
of these casinos will feature 300 slot machines and 30 table games.
Depending on the scope of operations, each has the potential to
generate between CDN$15-$25 million in annual revenues.
In
December 1998, Navegante/Trillium received its final approval-in-principal
to operate the CDN$10.6 million Coquihalla Casino project near
the city of Merritt. This 200 slot, 20 table game casino is located
170 miles northeast of Vancouver on one of British Columbia’s
highways.
When
the projects receive final approval, the term with the Provincial
government will be for ten years with a ten-year extension option
|
