Revenue growth at BC casinos slows down

According to the latest reports, revenue at the largest BC casinos dropped 0.1% on average in 2018 from 2017, while it grew 4.4% in 12 months five years ago.

Canada.- Recent figures for BC casinos seem to be less promising than in the recent past. According to the latest reports, revenue at its largest casinos fell an average of 0.1% in 2018 from 2017. Five years ago, it grew 4.4% over a year, the Business in Vancouver’s Biggest Casinos and Bingo Halls in B.C. list shows.

However, average revenue went up 7.5% in five years, from €54.4 million to €58.4 million. Slots have pushed such growth, making up 79.1% of the revenue in 2018, while table games reached 20.3%.

River Rock Casino led revenue among BC casinos with €221 million in 2018. However, that means it went down 22.9% from its €286 million in 2014.

Meanwhile, Parq Vancouver had the best performing slot machines among the top 20 BC casinos. Machines posted an average €100k, while River Rock’s stood at €91.7k.

Money laundering inquiry

After Canadian media reported that money laundering was happening through casinos in the country, British Columbia started an official investigation. The public inquiry into money laundering will feature sixteen organisations that will have official standing, including the British Columbia Lottery Corporation (BCLC).

Premier John Horgan called for the inquiry back in May after local media pressured to investigate money laundering accusations in BC casinos. In order to investigate such allegations, the city launched a public inquiry.

Senior Commission Counsel Brock Martland said: “This is who is allowed formal status at the hearings which will give them a number of rights to participate through opening and closing arguments, examining witnesses, putting forward evidence and information to assist in this inquiry.”