Vancouver Not Vegas calls for the Gaming Policy and Enforcement Branch (GPEB) to refuse to recognize Michael Graydon as a qualified officer of the newly formed PV Hospitality ULC, due to the public perception that Mr. Graydon may have violated the Conflict of Interest Guidelines of the BC Lottery Corporation, and due to his possession of sensitive confidential information pertaining to Paragon’s competitors.
Further, Vancouver Not Vegas calls for the City of Vancouver to attach a restrictive covenant to the property’s Development Permit, permanently limiting the number of slots and gaming tables on the new Edgewater Casino site.
Finally, VNV calls for the BC Lottery Corporation to publicly disclose all financial projections and public subsidies associated with the proposed Edgewater Casino expansion at BC Place.
“Public trust and confidence in the integrity of the BC Lottery Corporation is at stake,” says VNV member Ian Pitfield. “The corporation’s own Conflict of Interest Guidelines enjoin management from conduct which raises the perception of conflict. These rules are meaningless if there are no post-employment consequences for violations.”
“The City must respond to Mr. Graydon’s actions. Paragon is building a casino that’s oversized by some 40,000 square feet, and the BCLC governs the number of slots and table licenses that will go there.” says VNV spokesperson Sandy Garossino. “Mr. Graydon’s defection raises grave concerns about his neutrality while at BCLC, and what promises may have been made to Paragon.”
According to previous financial projections associated with an expanded Edgewater Casino, the BC Lottery Corporation was scheduled to transfer $16.9 million annually to Paragon Gaming to off-set construction costs. PavCo has re-negotiated a 50% lease reduction to $3 million annually. No projections of increased revenues (net of revenue losses to other local casinos) to the BCLC have been made public.
BCLC Conflict of Interest Guidelines
Gaming Control Act:
Deloitte report showing $16.9 m in construction subsidy: http://vancouvernotvegas.ca/wp-content/uploads/2011/03/Deloittes-Economic-Report-Entertainment-Complex.pdf (P. 8)
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