B.C. is third among Canadian provinces when it comes to the proportion of gambling revenue contained within provincial coffers. According to a Statistics Canada report released Friday morning, gambling revenue represented 2.2% of the province’s total revenue in 1992. In 2007, it represented 5.6% of total revenue.
Alberta and Saskatchewan were the only two provinces more reliant on gambling revenue in 2007. B.C. gambling industry revenue grew 79% to $1.9 billion in 2008 from $403 million in 1992. StatsCan also reported that industry profits grew 78% to slightly more than $1 billion in 2008 from $239 million in 1992. Nationally, net revenue from government-run lotteries, video lottery terminals (VLTs), casinos and slot machines not in casinos rose to $13.7 billion in 2007 from $2.73 billion in 1992. It has levelled off since 2007. Net gambling revenue in Canada was $13.75 billion in 2009. Net revenue from horse racing nationally dropped to $355 million in 2009 from $532 million in 1992. Casino net revenue represented slightly more than one-third of the industry total (34%) nationally in 2009. More men are working in the gambling industry, up to 51% in 2009 from 35% in 1992. The rate of full-time jobs also increased to 82% in 2009 from 60% in 1992.
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Don Quixote Note: P.73 of Vernon's annual report shows a total consolidated revenue of $55,723,000 in 2009.. Revenue from Host Municipality Share of Casino is $2,079,000 in 2009. This represents 3.73% for Vernon as compared to 5.6% for the Province. But if we eliminate the $9,095,000 for sewer fees and the $2,369,000 from Developers Contributions (DCC's) the adjusted Revenue total is $44,259,000 and the $2,079,000 in casino revenue is 4.69% of the total .
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