Revenue coming into city coffers from River Rock Casino seems to be exceeding pre-pandemic levels.
The city’s budget projected $14.5 million in revenues this year but, if current trends continue, it could hit $14.8 million.
According to a report from city staff, Richmond received about $3.7 million in gaming revenue in the first quarter of 2023.
Last year, the city also estimated it would receive $14.5 million in gaming revenue, but, in the end, this was $1.9 million less than expected.
The city receives 10 per cent of net profits from River Rock.
River Rock was closed in March 2020 due to the pandemic, and didn’t reopen until 15 months later, in July 2021.
The money the city receives from River Rock goes to fund four RCMP officers, to pay off city debts, towards grants and for council initiatives. The remaining $4 million is budgeted for capital reserves.
