Treasure Cove revenue rises slightly

Treasure Cove Casino brought in $50.8 million in revenue during during the 2018-19 fiscal year, according to a B.C. Lottery Corp. report released this week.

The amount was up slightly from $50.7 taken in the previous year.

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Slot machines brought in $45.5 million, up by about $83,000 from the previous year, while the tables accounted for $2.1 million, down $59,000.

At $3.25 million, Treasure Cove remained the top earner among the 25 venues in the province offering bingo. Next highest was Chances Kelowna at $2.93 million followed by Planet Bingo in Vancouver at $2.91 million.

(In the 2017-18 report, revenue from bingo was listed at $9.9 million but a spokesperson said BCLC has since adopted new accounting standards that now reports revenue net of prize money paid out.)

On the casino side, Treasure Cove remained the 10th-highest earner among 17 venues. River Rock Casino Resort in Richmond topped the list at $323.7 million. Billy Barker Casino in Quesnel was at the bottom at $8.9 million.

In all, the activity earned Treasure Cove $14.2 million in operator commission, up by $269,000 over 2017-18.

According to the report, service providers receive 25 per cent of the net win from slots, 42.5 per cent of the net win from tables, 77.5 per cent of the poker rake and 62.5 per cent of low limit blackjack (defined as tables with minimum bets of $5 and a maximum bet limit of $50 per hand).

As for bingo, they get 90 per cent of sales on the first $10,000 per week and 45 per cent of weekly revenue above that figure after prizes have been paid out.

The full report is posted with this story at princegeorgecitizen.com.

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