Casino news from http://www.tricitynews.com/
$129 million for Boulevard Casino, which placed third
behind River Rock & Gateway
Coquitlam’s Boulevard Casino was the third most profitable gaming venue in B.C. in the last fiscal year, according to figures released this week by the BC Lottery Corporation.
The 2005-’06 annual report shows the casino, owned by Great Canadian Casino, brought in more than $129 million for the year ending March 31, 2006. That is up $9.8 million over the 2004-’05 fiscal year.
Boulevard Casino, which recently underwent a $90-million expansion to include a 1,600-vehicle parkade and a meeting and conference space, plus a 1,000-seat multi-purpose theatre, has 950 slot machines and 70 tables for card games.
By comparison, Richmond’s River Rock Casino brought in $215 million last year from its 918 slots and 110 gaming tables while the Gateway casino in Burnaby took in $151 million last year from its 679 slot machines and 34 tables.
As part of the casino’s mandated 10% share of net proceeds to the host city, Coquitlam received $7.3 million in the last fiscal year — an increase of nearly $469,000 from last year.
Overall, casino royalties jumped for B.C. cities with gaming facilities, raking in $65 million — up 20% from last year: Richmond got $11.1 million and Burnaby collected $8.6 million for their city purses.
Independent researcher Colin Campbell, a Tri-City resident who teaches criminology at Douglas College, said cities with casinos should have bargained for more than a 10% cut. And given how little information comes out about the casino business, he questions its economic and social benefits and costs.
Calls to the Great Canadian Casino weren’t returned Tuesday.
THE NUMBERS
Below, BC Lottery Corp. profits and costs:
• Total revenues: $2.26 billion
• Prizes to lottery/bingo winners: $641.5 million
• Service fees to lottery/casino/bingo providers: $483.7 million
• Operating expenses: $157.9 million
• Ticket printing and bingo paper: $32.9 million
• Special police costs: $1.4 million
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