In the last 10 years the Patrons of the Casino has voluntary contributed $253,299,017. The Casino Clientele would refer to this as their net loss but BCLC chooses to refer to this as the Casino Net WIN.
The Casino Operator retained 39.42% of this money , $99,862,717 which pays all his expenses, a 3-5% draw for capital expenditures and naturally his profit.
The Host Government (Vernon) retained 6.06% or $15,343,630 in the 10 year period and it was used to provide services for the taxpayers of Vernon. (The Host receives 10% of the NET after Casino costs etc and this has averaged out consistently to be about 6% of the GROSS)
The balance of 54.52% or $138,092,670 was then placed by our Provincial Government into their general revenue Coffers.
Approximately 29% of the Casino Operators cut plus the Host Governments share remain on Vernon. Of the $253,000,000 extracted from the Vernon economy only $45,000,000 or 17.78% remains in Vernon.
Naturally when the Online Casino starts working and the Local Area Customers decide to lose their money online rather than increase their Carbon Footprint by driving to the Casino then the Local Casino Win will probably drop off and the cut to the City of Vernon will decrease.
1 comment:
What is the difference between online gambling and a ponzie scheme? They are both stealing your money!
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