A casino and theatre that draw hundreds of thousands of gamblers, music lovers and guests annually pulled in more than $6.3 million for the city of Coquitlam last year.
And executives with the Hard Rock Casino Vancouver say they're pleased with the results following the first full year of operation (since the rebranding from the Boulevard Casino), given the recent economic challenges.
Chuck Keeling, vice-president of stakeholder relations and responsible gaming for Great Canadian Casino Corp., which owns the property, said while he hasn't seen the numbers for the last quarter of 2014, he believes the gaming venue is on the road to recovery.
The negative effects on the casino of the downturn in the economy that started in 2007/'08 were compounded by the Port Mann/Highway 1 construction project, and the latter "was the primary reason why we started to consider in 2009 a rebrand of the property," Keeling said of the $15-million facelift. "We needed a fresh start once the highway challenges were completed."
Since Hard Rock opened on Dec. 20, 2013, Keeling said there has been an uptick in its income the first three quarters. The figures from the full year will be revealed next month to shareholders.
"None of us expected the rebrand to lead to a significant, material or instant rebound to where we were in 2007/'08," he said. "There have been substantial changes in the marketplace where there are other gaming locations around now.
"We have always believed this is going to be a slow rebound and we feel that it was still the right decision."
Raj Mutti, the casino's executive director, confirmed attendance rates are up versus 2013 and the crowd is also younger. He said hospitality revenues for the first three quarters were up about 30%, meaning the venue's income is becoming well-rounded.
He also commented on the casino's relationship with the city of Coquitlam's tourism office, which city council funds with casino dollars. Hard Rock is "working very closely" with tourism manager Eric Kalnins, Mutti said, and Hard Rock plans to play a key role in this summer's Canadian Pacific Women's Open golf tournament at the Vancouver Golf Club by offering VIP parking and shuttles.
Since the casino opened in 2002 as the Great Canadian Casino, Coquitlam has received more than $100 million as part of the 10% cut of net gaming revenue to the host city. The city last week reported it received $1.6 million for the fourth quarter of 2014, about $44,000 more than for the same period in 2013.
And in December, Coquitlam council doled out more than $260,000 to charities and community groups from the 12.5% it sets aside for casino grants. The rest goes toward capital projects, which in the past have included the new Poirier Sport and Leisure Complex, Percy Perry Stadium renovation and the new City Centre library.
As for the provincial government's report last week that outlines new measures to help problem gamblers - despite the number of problem gamblers decreasing 2.1% since 2008 - Keeling said Hard Rock is trying to do more than what the Gaming Policy Enforcement Branch mandates. For example, it has started a responsible gambling site committee, created its own policies and procedures, and educated non-gaming staff about gamblers' behaviours.
As well, its partnership with Share Family and Community Services - which handles problem gaming cases and was named as Hard Rock's signature charity - has translated into about $15,000 for the non-profit group plus in-kind and volunteer services over the past 14 months, Mutti said.
Hard Rock Casino Vancouver is the largest gaming venue in the province by gaming space, with 1,000 slot machines, 70 game tables and a poker room inside 80,000 sq. ft.
@jwarrenTC
