BCLC Shatters Annual Net-Income Record in FY 22/23 – Casino Reports
Last week, British Columbia Lottery Corporation issued its Annual Service Plan Report and Accountability Disclosure Report for the fiscal 2022/23. The Annual Service Plan Report confirms that the Crown corporation provided a record-setting net income of CA$1.636 billion. Out of which CA$1.624 billion went to the province and CA$12 million to the federal government.
BCLC is a state-run Crown organization mandated to conduct and offer commercial gambling services in the Province of British Columbia. Currently, it is the only legal provider of gambling and iGaming via PlayNow.com in the region. The Crown agency shares its casino revenue with the province by investing in healthcare, education, community groups, and more.
Annual Report Now Published
The Crown's latest Annual Service Plan Report indicates that for the fiscal 2022/23, BCLC has delivered a record-setting net proceeds of CA$1.636 billion. Out of this amount, CA$1.624 has gone to the Province of B.C. and CA$12 million to the federal government. Since, 1985, the Crown has provided more than CA$28 billion in net income to the province.
The improvement in net proceeds can be explained in part by the opening of the new Cascades Casino Delta, which launched operations in the province in September 2022. The new gaming location has a premium gaming floor of 500 slots, 18 table games and stadium-like gaming. It is located at 6005, BC-17A and provides work to around 500 individuals.
In addition to the opening of the new casinos, fiscal 2022/23 also saw the debut of the new Lotto 6/49, continued high Lotto Max Jackpot roll patterns, and the integration of its PlayNow to a third Canadian province. All of which contributed to a record-breaking year. FY 2022/23 broke the previous net-income resort set in 2018/19 by a substantial margin of CA$220 million.
BCLC is mandated to reveal all compensations to the CEO and the next four highest-paid exclusives every year. Its 2022/23 Statement of Executive Compensation can also be found on the Public Sector Employer's Council Secretariat website. Also, BCLC annually discloses commissions paid to casinos, community gaming centres, and bingo service providers.
New Photo ID Requirement
In June 2023, BCLC took another important step in protecting its gamblers. The Crown corporation enacted a rule requiring all its guests to present a photo ID upon entry. This change aimed to raise awareness and help individuals who experience gambling addictions, while also enhancing its player protection program GameSense.
Its new protocols came into effect on June 23, 2023, and now guests must present government-issued photo identification before entering one of its gaming locations. IDs are scanned by security staff and automatically checked against the database of individuals restricted from entering gambling facilities, like those enrolled in Game Break. Personal information is not saved, assured BCLC.
Source: “BCLC Releases 2022/23 Annual Service Plan Report and Accountability Disclosure Reports” BCLC, September 1, 2023