Monday, July 9, 2018

A Proud River Rock Casino Resort Report: Where the money goes: Two Thirds + One Third = Four Thirds

That's Rich,  River Rock Casino Resort lays out the groundwork of how beneficial gaming revenue is to the City of Richmond        https://riverrock.com/proud/where-the-money-goes/

The money can go to "supporting programs like healthcare, education and social services" and "This share of gaming revenue received is available to be used to fund local projects such as:
      policing, road maintenance, civic buildings, and park upgrades.

$50 million just for Richmond and the BC Liberal Minister responsible for BC Lottery couldn't find the money to bankroll the  Integrated Gaming Enforcement Team (IGET) to keep tabs on the money launderers.


Does anyone in Richmond City Hall have a handle on the split today amongst the possible recipients?  healthcare, education, social services, policing, road maintenance, civic buildings and park upgrades?

Where the money goes
In British Columbia, approximately two-thirds of gross gaming revenue from the gaming facilities goes directly back to the government, through the BC Lottery Corporation, for the purpose of supporting programs like healthcare, education and social services.  The remaining one-third of gaming revenue is retained by service providers, such as Great Canadian Gaming Corporation, to pay for wages, building costs, taxes and other operational services.



policing, road maintenance, civic buildings, and park upgrades

Here we are in 2018 and the data above is for 2014/2015.

Any chance of an update from River Rock?   2016/2017/2018?

Is that when the fourth 'third part' took their cut and cleaned out the till?

2 comments:

e.a.f. said...

Given how negatively money laundering and all the other crime has impacted B.C., perhaps it might be more cost effective to ban the casinos, money laundering, etc. and just create a decent income tax system. Once the criminality is taken out of our province, we might have money to spare. One of the huge costs of this criminality is the high cost of housing. Once people had affordable homes again, they could pay taxes, spend money, etc. Just get rid of all the casinos and move on.

e.a.f. said...

good questions. who got what, who gets what? Bet the Library in Steveston would have like some of that money. A few years ago they couldn't get the money, but Oval did, for their renos. all we have to do is follow the money in this province, yet only a few bloggers tend to. MSM not so much, can't find the RCMP if you tried. Mayors and councils, well all they seem to say is give me the money, but don't seem to do much after that. The mayor of Richmond and council might want to have something to say. He most likely doesn't want to "upset" some of those playing at the casino, but really.......

With the money these casinos are making and the cut the government takes, it ought to be no problem building homes for the homeless, treatment centers for the addicted, and more schools in Nanaimo and Surrey. Its time voters decided to follow the money.