Developer and gaming operator Paragon Gaming announced last week that it has sold its ownership position in British Columbia’s Parq Vancouver to PBC Group for an undisclosed amount. The transaction ends Paragon Gaming’s affiliation with the resort destination, which debuted to the public in September 2017.
Paragon Gaming, Dundee 360Vox and PBC Group played an instrumental role in the design, development, and pre-opening operations of Parq Vancouver. Beginning in 2006, Paragon Gaming acquired Edgewater Casino, the only licensed casino in the city of Vancouver. Paragon managed Edgewater for more than 10 years before the relocation of gaming operations to Parq Vancouver, at which time Parq assumed all management functions. Paragon also assisted in the management of pre-construction approvals and permits for the project.
“The milestones achieved in British Columbia—at Edgewater, Parq Vancouver and the overall community—are a testament to the incredible work of our team members,” said Paragon Gaming co-founder and Chairman of the Board Diana Bennett. “We are proud of our affiliation with Parq Vancouver and we wish their employees the best moving forward.”
Parq Vancouver is a destination resort adjacent to BC Place in the city’s downtown entertainment district, and features a casino, two Marriott hotels, and multiple dining venues.
“PBC believes that Parq Vancouver is positioned to become a central feature of the downtown entertainment district and will serve as further proof that Vancouver has become a global destination city,” says PBC’s President, Paul Bouzanis.
Paragon Gaming partnered with PBC Group and Dundee Corporation in the development of Parq Vancouver. PBC Group and Dundee Corporation will continue its ownership of the resort with the existing management team providing day to day oversight.
