According to a report today by Business Edge, Fraser Downs owner Great Canadian Gaming Corp. has adopted a 'go-slow' approach in regard to its River Rock Casino in BC, but is still proceeding with its racino expansion at
Georgian Downs.
The article states that GCGC has put off a $53 million expansion at River Rock due to the global economic downturn, but the Georgian expansion is still on course.
"We are being prudent as a company not to rely on debt and we felt it was best to extend our construction times over a long period of time, as opposed to putting all of our eggs in one basket in one year," Howard Blank, vice-president of Communications for GCGC was quoted as saying.
To read the article in its entirety, click here.
(With files from Business Edge)
I believe if GCGC is
I believe if GCGC is concerned with the downturn in Canada's economy they should not be thinking about the expansion at Georgian Downs and work on the problems at hand with racing issue. People are spending less true but many jobs will be lost if harness racing is let to continue it's downward spiral.
I read the article, is this
I read the article, is this true... GC is Canada's largest casino company? Is that because Ontario control it's own casino's through the Ontario Lottery & Gaming Corp. And what about elsewhere.. $400,000,000 in revenues per year for a casino co. is.... well ... not much at all!