Casino revenues top $1 billion
By Jeff Nagel
Black Press
Aug 05 2006
Public support for gaming in B.C. is dropping while casino-fueled revenues continue to steadily climb.
Those are among the findings in the B.C. Lottery Corporation's annual report for 2005-06. It says public support of gaming has dropped from 58 per cent two years earlier to 51 per cent. The corporation's target is 75 per cent support.
The report blames media coverage of casino gambling and increased casino advertising from operators both inside and outside the province.
"These two factors correspond to an increase in public perception that there is too much gaming in British Columbia and too many casinos," it says.
Without strong public acceptance and support, the report says, the corporation may fail to reach its business and revenue targets.
B.C. casinos raked in more than $1 billion from customers for the first year ever. Slot machine revenue led the way with $763 million, combined with $322 million from table games for a total of $1.08 billion – up 21 per cent from $892 million the previous year.
The biggest single take was $215 million at Great Canadian Casinos' River Rock Casino in Richmond, where table games actually outperformed slots. Number two in the region was Burnaby's Gateway Casino Burnaby with $152 million in combined revenue, followed by Great Canadian's Boulevard Casino in Coquitlam with $129 million.
The report projects a continued rise in casino gambling, which is forecast to hit $1.225 billion by 2008.
It was also the first year in B.C.'s history that casino gambling outstripped lotteries. The lottery branch trailed with $967 million in revenue for the year. Bingo raised $208 million.
The corporation aims to "transform and reinvent lotteries to a growth business" and continue to increase revenues through casinos and by transforming bingo halls to community gaming centres.
Another key strategy is to increase Internet gaming revenues through the corporation's eLottery program. The provincial government raked in $922 million in net income from gaming last year. Of that, $65 million was passed along to host municipalities, $138 million went to charitable and community groups, while the remaining $700 million went to either general government revenue or health funding.
The report notes that with just over 6,300 slot machines and no video lottery terminals, B.C. has the fewest electronic gaming devices per capita of any province. |
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