The former boss at the BC Lottery Corporation found to be in a conflict of interest after he took a job with the proponent of a half-billion dollar casino and resort next to B.C. place, has now resigned.
The CEO of Paragon Gaming Corporation Scott Menke says in a statement to CKNW that Michael Graydon has resigned, effective January 30th, to pursue other opportunities.
He concluded that the President position needs to be more hotel and casino operations focused and that his background and experience are not aligned with the evolving needs of parq Vancouver.
Graydon’s hiring as the president of a Paragon affiliate was announced just days after he left his six-year job as BCLC’s CEO.
He was forced to pay back $55,000 he collected while he was found to be in a conflict of interest.
A government review found he’d been in negotiations for two months while still at the helm of the lottery corporation.
He did not disclose that fact to the lottery board.
Graydon received a $125,000 severance package when he quit but he was not asked to repay $30,000 in vacation pay to which the agency said he was legally entitled.
Parq Holdings, a subsidiary of Paragon, is developing a 775,000 square foot resort next to B.C. place including a pair of luxury hotels as well as the new home of the Edgewater Casino.
The development has been contentious since Paragon announced its intention to move the casino and double its floor space.
In 2014 the City of Vancouver put a restrictive covenant on the casino, locking in its number of slot machines and gaming tables at current levels.