The local economy will benefit from the contributions of the Treasure Cove Casino

The local economy will benefit from the contributions of the Treasure Cove Casino

Summary:

The host community of Prince George has received almost CA$44 million in financial contributions from British Columbia’s Treasure Cove Casino. The casino had to shut down for several months due to health and safety restrictions. Live table games which suffered most of the provincial protocols generated more than one million dollars and bingo offerings generated more than one million dollars.

With no health restrictions, British Columbia’s casinos are able to properly contribute revenue to the local government. According to the British Columbia Lottery Corporation, Treasure Cove Casino has contributed almost CA$44 million to the Prince George community over the course of the next five years.

The incident had a significant effect on BC. Casinos and their capacity to fund the regional economy. The reason for this is that they closed down in March of 2020 and were out for 15 and a half months. The casino recommenced work on July 1, 2021, which was two months into the fiscal year.

The numbers are being broken down

The British Columbia Lottery Corporation’s official fiscal report for the financial year of 2021-2022 was released last week. The report confirmed that Treasure Cove Casino generated over forty million dollars in revenue in that time. The property usually has a tally of CA$7 million less. This is because it wasn’t operational for the entire FY.

The casino had to operate for several months under health and safety restrictions, and it collected CA$40.6 million from its slot games. Live table games which suffered most of the provincial protocols generated more than one million dollars and bingo offerings generated more than one million dollars.

The Prince George casino property delivered over CA$50.9 million in revenue in the fiscal year that ended on June 30th, which was just over CA$101,000 more than the previous year. Due to the March 2020 lockdowns, the 2019-20 year was cut short. The casino received more than 13 million dollars in total commissions.

According to the agreement, casinos receive 25% of the net proceeds from slots, 77.5% from poker and craps, 62.5% from low-limit blackjack, 40% from high-end table games, and 42.5% from all other table games. It gets 90 percent of bingo wins after paid prizes on the first 10,000 per week and 45% of bingo sales after paid prizes larger than CA$10k per week.

The license for liquor is being expanded

The management of Treasure Cove Casino said in April that they were looking to expand their liquor offerings. The property applied for a new license to the B.C. Liquor and Cannabis Regulation Branch to allow liquor service across its bingo area and its second floor, thus increasing its liquor servicesOccupancy from 2,016 to 3,004 patrons.

There are many millionaires in this home

Many patrons of the casino have won large amounts of money. Brittany Hammell of Prince George was the winner of the Wheel of Fortune Hawaiian Getaway, which was worth over a million dollars. The amazing prize was won by her on August 20, 2019. In July of this year, Andy and Marlyne Dumoulin won the grand Powerbucks prize.

Mark “Treasure Cove Casino pulls in nearly $44 million” Prince George Citizen, September 12, 2022.