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The Baccarat Casino in Edmonton on Jan. 14, 2020.

The old Baccarat Casino in downtown Edmonton is one step closer to becoming a parking lot, and the Oilers Entertainment Group says it has bigger plans for the space in the future.

The building, at 104 Avenue and 101 Street will soon be torn down.

It has been vacant for several years as a result of the new casino in the ICE District.

OEG is waiting for a permit for phase two of the development.

"We want to put some temporary parking there, that’s going to assist, obviously, with some of the businesses in and around the area," said Tim Shipton of OEG.

"The long-term plan for that site is to develop. We’ve announced phase two plans, which will be heavily focused on residential."

The group still needs to get permission from the city to use the land for public parking.