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This report has been sent to City Council and will form part of my presentation on Tuesday Night at 7 PM at the Public Input Session for the relocation and expansion of Lake City Casino in Vernon.
Basically it can be shown that of the existing $28,540,144 that got extracted from the patrons of the casino only 29.11% remained in Vernon. Of this $28 million about 6.18% was the amount pocketed by the City of Vernon for allowing a casino franchise in our city.
The Provincial government treasury profits by 55.60%.
Another interesting piece of data is that It was confirmed at the Casino/BCLC open house that only 10% of the revenue came from tourists outside the area. (My initial study showed a 6.7 to 15% range so that confirmation is within the range predicted.)
Please feel free to comment on these statistics.
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Castanet:
Lake City Casino says the proposed relocation and expansion of it’s Vernon facility will benefit the local economy. The company and B.C. Lottery Corporation held an open house Tuesday to outline details of a larger facility on Anderson Way. Lake City vice-president, Steve Kumph, says after ten years at the Village Green Hotel site, they've run out of room. “That in combination with us wanting to really build a facility that is appealing to a broader client base with expanded amenities, such as food and beverages, shows and a stage lounge,” says Kumph. He says the casino will employ 175 people, 45 more than it does now. The 400 slot machines and other gaming would generate $33 million in annual revenue, $4 million more than it does currently.
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