The extraordinary situation has had a devastating impact on almost all land-based business enterprises in Canada. That has also been the case for Cascades Casino Chatham, which has also been heavily affected by all lockdown restrictions. Chatham-Kent recently announced that the casino’s revenue has dropped significantly over the last two quarters.
Gateway Casinos & Entertainment Limited owns the gambling property, which has endured a significant setback in its growth over the last year. The property had to close down at the start of the extraordinary situation in March 2020, and it had been launched and shut down many times since then. Currently, the gambling entity is non-operational.
The casino’s revenue has suffered greatly as a result of its high level of inactivity. According to the Chatham-Kent, the property’s income statistics decreased significantly, resulting in a lower revenue share with the municipality. Between October 1 and March 31, the share was just CA$222,852 which is almost a 70% decrease compared to last year’s same timeframe with CA$730,084.
Under normal circumstances and at maximum capacity, the casino provides the municipality with about CA$400,000 for every quarter. Between October 1 and December 31, the casino was open for 79 days, generating CA$156,366 in income shares, and another 44 days from January 1 to March 31, generating CA$66,486 for the local economy.
And speaking of Ontario gaming properties. The company was able to reopen casinos in the province back in February. Gateway Casinos Sudbury, Gateway Casinos Sault Ste. Marie, and Gateway Casinos Thunder Bay have all reopened their doors for business. The properties, however, have been shut down again as a result of the new government-issued stay-at-home order.
Construction Going Well
Gateway Casino & Entertainment has also recently released more details on one of its upcoming projects, this time in B.C. The company’s CA$87 million Cascades Casino project in Delta is progressing according to plan. According to a company spokesperson, the elevated concrete construction is almost complete, and workers are preparing to work on the steel elevator structures.
In addition, in the coming months, further work on the roads surrounding the potential gaming hotspot will commence. The company, on the other hand, has not specified a timeframe for the construction site’s completion. The casino will offer a 40,000-square-foot gaming floor with over 600 slot machines and 30 gaming tables, along with several food amenities services.
Casino and Diners Status
All of the company’s gambling facilities in B.C. have remained closed since the occurrence of the extraordinary situation in March 2020.
The gaming leader, on the other hand, was able to reopen some of its diners in the province. Since indoor eating is now prohibited, some of the company’s trademark Match Eatery restaurants, such as the one in Okanagan, can still provide outdoor services.