Online Gambling Canada Can’t Save Our Casinos
Posted on February 04, 2021 at 2:02am
As we reach the 12-month milestone of the closure of British Columbia’s land-based legal online casinos Canada to stop the spread of COVID-19, a reopening date has yet to be revealed. The massive revenue being lost is somewhat affected by a climb in online gambling Canada activity, but it is not enough.
The BC Ministry of Finance has let it be known, however, that venues have started submitting safety schemes which Worksafe BC and the province’s Health Office have reviewed. The Department added that they are looking into improved support for casinos alongside their other priorities.
A Massive Loss of Income
The continued availability of online gambling Canada is not much help to the rising number of unemployed in the province. Tanya Gabara, Public Relations Director for Gateway Casinos & Entertainment Limited, has revealed that 8 000 employees have been off work since March 2020. This is 90% of all personnel at the firm’s almost 30 casinos and near 100 restaurants and other interests in British Columbia itself and across Canada as a whole.
Net Profit Well Below Budget
Recent figures published in the BC Lottery Corporation’s Annual Service Plan Report for 2019/2020 state that the corporation came in almost CA$59 below budget. Just over CA$1 billion was recorded in net proceeds, but this is almost CA$70 billion less than income over the previous period.
Peter Kappel, Chairman of the Board, reported that the closure of Bingo halls and casinos in mid-March 2020 had the largest negative consequence for their revenue. He added that many players shifted their business to the Lottery’s PlayNow.com online gambling Canada channel, but this migration wasn’t as large as everyone hoped.
A Recent Surge in Online Activity
The PlayNow.com online gambling Canada portal has seen a rise in activity over the last 11 months equalling 131%, however. These operations brought in nearly CA$180 million for the 2019/2020 fiscal year, and the Ministry of Finance has confirmed that this income flows from the Lottery Corporation to British Columbia to be distributed locally.
The money is being used to ensure that key services like education and health care can keep being provided as well to assist with local communities’ economic development. More data on the income being generated by legal online casinos Canada since the COVID-19 restrictions were implemented will be available soon. The Lottery Corporation is scheduled to deliver its annual report for 2020/2021 after March 31 this year.
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