Of that revenue, 12.5% is dedicated to the community capital fund, which operates the city’s tourism and Spirit Grant programs. Since the casino opened in 2002, Coquitlam has received more that $131 million through the operating agreement. “We will monitor it through the next quarter.” “We are not adjusting anything at this point,” she said.
The most recent financial statements from Great Canadian Gaming (GCG), which owns the Hard Rock Casino Vancouver in Coquitlam and the River Rock Casino in Richmond, showed the quantity of gambling chips purchased fell 12.5% to $282.8 million in the first quarter compared to last year.īecause Coquitlam receives 10% of Hard Rock revenues through its casino operating agreement, Michelle Hunt, the city’s manager of finance and technology, said the city would be closely monitoring GCG’s financial reports in the coming months. A drop in VIP gambling at the Hard Rock Casino could have budget repercussions for the city of Coquitlam.
