British Columbia municipalities have recently demonstrated interest in bagging a portion of the online gaming revenue generated within the borders of the province. British Columbia’s Attorney General’s office made it clear that the change must be formally requested by the municipalities interested in bagging a percent of the revenue in question. Then both parties have to OK the new arrangement.
Right now online gaming is widely popular across the province of British Columbia, as well as across Canada. Players are advised to practice social distancing and explore the gaming offerings available online. They are powered by the British Columbia Lottery Corporation and are available on its premium online platform called PlayNow.com. The gaming revenue generated via online gaming is considerable right now.
Gaming Agreements
Mid-March, the Crown corporation made it clear that all brick-and-mortar casino venues and gambling halls within the borders of the province should close for business indefinitely. The unprecedented situation called for the new measures to be introduced and right now, online gaming revenue surpasses the in-person gaming allocations that could make their way to the city coffers of host communities.
Kamloops was among the first municipalities to open the conversation and show interest in online gaming revenue allocations down the road. The support would be essential for the areas in need of financial support, especially those that have already shaped their budget around the casino revenue allocations. The Attorney General’s office made it clear that the amendment should be formally requested by the municipality in need of support.
The reason for this is that British Columbia has not set in stone revenue-sharing agreements when it comes to online gambling. Kamloops Coun. Arjun Singh suggested the idea that players would be located in their regions and locals would once again be able to support their community while gambling online. As a result, key government programs and essential services, among which health care and education would benefit.
Online Cash Might Fuel Municipalities
Casino cash has been supporting the host communities of brick-and-mortar casino venues for decades now. It is a constant flow of money that has changed a lot by fueling local projects, beautification work, infrastructural improvements, as well as local charitable organizations relying on this support.
Over the previous 2018/2019 fiscal year, British Columbia’s government has succeeded in supporting many municipalities. The overall allocation reached CA$98.4 million thanks to the revenue-sharing agreement in place. Kamloops solely bagged some CA$2.5 million over the course of the fiscal year. Projections for online gaming support are strong. Coun. Singh made it clear that he has insider information regarding the gaming revenue currently generated by the online gaming platform.
He pointed out that an employee of the Crown corporation has informed him that online gaming revenue has surged since the closure of brick-and-mortar casino venues. Kamloops is one of the areas typically benefitting from brick-and-mortar casino gaming revenue, as Cascades Casino Kamloops and Chances Casino Kamloops welcome patrons with their diverse portfolio. They allocate 10 percent of their gaming revenue to the city coffers.
