Thursday, August 03, 2006

As reported by the Langley Times: "A look at Cascades Casino shows that the
downtown Langley City facility has been a huge success in its first year.
"The casino's revenues were almost $90 million - an astonishing amount of
money for a first-year business. This demonstrates the pent-up demand for
gambling that existed in Langley and surrounding areas. "The profits have
been excellent as well. After all, the house always wins in the gambling
business. "Profits have exceeded $40 million, with 10 per cent of that
amount going to Langley City's coffers and a larger amount to Victoria. The
windfall has allowed the City to pay down its debt, part of which was
accumulated in buying the land the casino now sits on. This has also allowed
the City to keep tax increases to a minimum."