The 2022-23 fiscal year was a record-setting one for the British Columbia Lottery Corporation. Last week, the BCLC released its Annual Service Plan Report and Accountability Disclosure Report, with the former confirming the banner year.
According to the service plan report, the provincial gaming authority delivered a net income of $1.636 billion last fiscal year. The overwhelming majority of the funds, $1.624 billion, were delivered to the Province of BC, while an additional $12 million went to the federal government.
Last year’s stellar showing vastly outpaced the previous net-income record, set in the 2018-2019 fiscal year, by $220 million.
Record numbers a product of key improvements across the board
As the overseer of British Columbia’s casino and gambling scene, BCLC is the sole gaming provider for players in the province. Since its establishment in 1985, the crown corporation has returned over $28 billion in net income to British Columbia.
Nearly 40 years later, BCLC is celebrating its greatest annual report to date, thanks to key improvements across the board.
In September 2022, the brand-new Cascades Casino Delta opened. The Canadian casino features a premium gaming floor of 500 slots, 18 table games and state-of-the-art virtual gaming arena. The gambling site employs around 500 BC residents. Overall, BCLC’s casino operating segment accounted for 61% of the year’s net income.
The company’s lottery sector, which provided 21% of the $1.636 billion, also played a significant role. In particular, BCLC’s statement cited Lotto 6/49 game enhancements along with continued high Lotto Max jackpot roll patterns as key drivers for the increase.
PlayNow, BCLC’s homegrown online gaming platform, recently expanded to a third province in July of this year. Saskatchewan became the latest gaming jurisdiction to authorize PlayNow’s platform, joining Manitoba who adopted the site in 2013. Altogether, BCLC’s online gaming segment contributed 18% of the total net income earned in fiscal 2022-23.
Profits go back into province, but where?
Like the OLG in Ontario and AGLC in Alberta, BCLC makes re-investing profits back into the province a point of emphasis. Whether it be for responsible gambling-related programs or match integrity matters, BCLC spreads the wealth. Here is a list of initiatives the crown corporation invested in 2022-23, as outlined on its website:
- Province of BC General Revenue Distribution: $1.09 billion
- Provincial Health Special Account: $147.2 million
- Community Gaming Grants: $139.8 million
- First Nations Revenue Sharing: $113.6 million
- Host Local Government Payments: $100.8 million
- Gaming Policy and Enforcement Branch: $15.1 million
- Revenue to support horse racing: $9.9 million
- Responsible Gambling Strategy: $4.5 million
- Joint Illegal Gaming Investigation Team: $3 million
On top of disclosing where it reinvests funds, BCLC is mandated to reveal all compensation provided to its CEO and the next four-highest paid executives each year. This information is available on the Public Sector Employer’s Council Secretariat website.
The gaming authority also shares commissions paid to casino, community gaming centre, and bingo service providers.