by MARK NIELSEN Citizen staff Prince George Citizen
Plenty of money continues to be spent on slot machines, bingo and poker in Prince George, the latest annual report from the B.C. Lotteries Corporation is showing. The report for the 2006-07 fiscal year ending March 31, posted on the BCLC website this week, says Treasure Cove Casino generated $46.3 million in revenue, while Good Time Bingo was good for a further $14.2 million, adding up to $60.5 million. To put that into perspective, the bill for the Northern Sport Centre now under construction at UNBC is $30.5 million and the cost of a new superstructure for the Cameron Street Bridge is estimated at $9.4 million.
The casino's 400 slot machines accounted for $43.7 million of that total while its 10 poker tables generated a further $2.6 million. Total revenue amounted to an increase of $5.6 million over the year before. Although nothing to sneeze at, the figure pales in comparison to the $233 million the River Rock Casino in Richmond achieved, making it the top-grossing casino in B.C. It was also the only casino where poker outdid slot machines, accounting for roughly 54 per cent of the total. Good Time Bingo's $14.2 million for BCLC, $791,000 less than in 2005-06 but still the second most among the 26 bingo halls in the province. The top dog was Planet Bingo in Vancouver's Mount Pleasant neighbourhood at $17 million.
According to figures from the Ministry of Public Safety and Solicitor General, 93 Prince George charities affiliated with Good Time received a total of $3.3 million in 2006-07 while 101 received $1.7 million in direct access grants with 19 getting money from both sources. In 2005-06, 106 affiliated charities shared in $3.44 million and 97 received $1.85 million in direct access funding, with 13 of those getting funding from both sources. City hall came out a big winner. Municipalities that host casinos get 10 per cent of the net revenue BCLC earns and Treasure Cove generated $2.86 million for the city, $437,000 more than in 2005-06.
On Monday night, city council voted 7-1 to let Treasure Cove add 175 more slot machines. Assuming those new machines make just as much money as the 400 already in place, they should add up to a further $1.25 million for the city once in place. And a further 100 slots are part of the new community gaming centre under construction at Sixth and Quebec. The City of Williams Lake received $467,000 from the 100 slots at the Signal Point gaming centre in 2006-07. Casino owner John Major told council additional machines at the casino are needed to cater to out-of-town customers, particularly on weekends when Treasure Cove can be especially busy. Of the 11,806 registered players who've gambled at Treasure Cove last year, Major said 45 per cent came from outside Prince George, with 20 per cent from out-of-province. Exactly how much money the BCLC cleared at each operation once expenses are accounted for was not included in the report. However, the 17 casinos across the province produced $1.2 billion in revenue for the BCLC. Take away direct and operating expenses and the net income from those operations stood at $698.6 million which was $68.9 million more than BCLC had projected.
Looking at bingo halls, the BCLC came out ahead by $36.7 million -- $5.1 million more than projected -- on revenue of $218.9 million. Major, who owns both Treasure Cove and Good Time, is paid an undisclosed amount to operate the facilities while the BCLC remains responsible for the machines, games and tables.
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Don Quixote Note: Coming soon to Vernon? A vote for expanded slots?
Rezoning application for new Casino ?
During the first quarter of 2007 Lake City Casinos entered into an offer to lease a 30,000 sq. ft. single purpose building to be constructed at the Silverstar Shopping Center located at 100-400 Anderson Way in Vernon. The lease term will be 10 yrs. with 2 renewal terms of 10 yrs, beginning when Lake City takes possession of the property. The landlord shall provide 265 parking stalls on the property for our exclusive use plus an additional 35 non-dedicated parking stalls on the adjacent lot. The offer has an option to purchase and is subject to the landlord obtaining appropriate rezoning no later than September 30, 2007. Following subject removal the new building is expected to be completed in the summer of 2008. The new casino is anticipated to contain up to 400 slot machines, 6 live tables, 2 electronic tables and a small poker room with 2 poker tables.
Plenty of money continues to be spent on slot machines, bingo and poker in Prince George, the latest annual report from the B.C. Lotteries Corporation is showing. The report for the 2006-07 fiscal year ending March 31, posted on the BCLC website this week, says Treasure Cove Casino generated $46.3 million in revenue, while Good Time Bingo was good for a further $14.2 million, adding up to $60.5 million. To put that into perspective, the bill for the Northern Sport Centre now under construction at UNBC is $30.5 million and the cost of a new superstructure for the Cameron Street Bridge is estimated at $9.4 million.
The casino's 400 slot machines accounted for $43.7 million of that total while its 10 poker tables generated a further $2.6 million. Total revenue amounted to an increase of $5.6 million over the year before. Although nothing to sneeze at, the figure pales in comparison to the $233 million the River Rock Casino in Richmond achieved, making it the top-grossing casino in B.C. It was also the only casino where poker outdid slot machines, accounting for roughly 54 per cent of the total. Good Time Bingo's $14.2 million for BCLC, $791,000 less than in 2005-06 but still the second most among the 26 bingo halls in the province. The top dog was Planet Bingo in Vancouver's Mount Pleasant neighbourhood at $17 million.
According to figures from the Ministry of Public Safety and Solicitor General, 93 Prince George charities affiliated with Good Time received a total of $3.3 million in 2006-07 while 101 received $1.7 million in direct access grants with 19 getting money from both sources. In 2005-06, 106 affiliated charities shared in $3.44 million and 97 received $1.85 million in direct access funding, with 13 of those getting funding from both sources. City hall came out a big winner. Municipalities that host casinos get 10 per cent of the net revenue BCLC earns and Treasure Cove generated $2.86 million for the city, $437,000 more than in 2005-06.
On Monday night, city council voted 7-1 to let Treasure Cove add 175 more slot machines. Assuming those new machines make just as much money as the 400 already in place, they should add up to a further $1.25 million for the city once in place. And a further 100 slots are part of the new community gaming centre under construction at Sixth and Quebec. The City of Williams Lake received $467,000 from the 100 slots at the Signal Point gaming centre in 2006-07. Casino owner John Major told council additional machines at the casino are needed to cater to out-of-town customers, particularly on weekends when Treasure Cove can be especially busy. Of the 11,806 registered players who've gambled at Treasure Cove last year, Major said 45 per cent came from outside Prince George, with 20 per cent from out-of-province. Exactly how much money the BCLC cleared at each operation once expenses are accounted for was not included in the report. However, the 17 casinos across the province produced $1.2 billion in revenue for the BCLC. Take away direct and operating expenses and the net income from those operations stood at $698.6 million which was $68.9 million more than BCLC had projected.
Looking at bingo halls, the BCLC came out ahead by $36.7 million -- $5.1 million more than projected -- on revenue of $218.9 million. Major, who owns both Treasure Cove and Good Time, is paid an undisclosed amount to operate the facilities while the BCLC remains responsible for the machines, games and tables.
----------------------------
Don Quixote Note: Coming soon to Vernon? A vote for expanded slots?
Rezoning application for new Casino ?
During the first quarter of 2007 Lake City Casinos entered into an offer to lease a 30,000 sq. ft. single purpose building to be constructed at the Silverstar Shopping Center located at 100-400 Anderson Way in Vernon. The lease term will be 10 yrs. with 2 renewal terms of 10 yrs, beginning when Lake City takes possession of the property. The landlord shall provide 265 parking stalls on the property for our exclusive use plus an additional 35 non-dedicated parking stalls on the adjacent lot. The offer has an option to purchase and is subject to the landlord obtaining appropriate rezoning no later than September 30, 2007. Following subject removal the new building is expected to be completed in the summer of 2008. The new casino is anticipated to contain up to 400 slot machines, 6 live tables, 2 electronic tables and a small poker room with 2 poker tables.
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