Double Digit Increase in Revenue for the BCLC's Online Gambling Site
Online gambling site of the British Columbia Lottery Corporation has recorded a substantial increase in revenue, primarily thanks to the improved video slot activity.
This was shown by the recently revelled figures for a twelve month period ending on March 31, 2017.
Numbers Going Up
Net income went up by 2% when compared to the previous fiscal period, to a record-breaking result of C$1.34 billion. It seems even the company itself didn’t expect such good results since the amount exceeded targeted profit by nearly C$100 million.
BLCL achieved a record-breaking revenue of C$3.14 billion – 15.4% or C$42 million more than in fiscal 2015-16.
Kamloops-headquartered crown corporation credited the improvements to innovations and capitalizing on strategic investments in the company’s video slot offer, both casino and online.
Excellent Period for PlayNow.com
The contribution of PlayNow.com site, owned and operated by BCLC was 16% higher than during the previous fiscal year. It should be noted that the sum of C$157.6 million was more than twice the size PlayNow.com generated back in 2012-13.
According to BCLC, the growth PlayNow recorded during this period was achieved mainly due to the continuous introduction of new content. It seems that the new deals signed with NYX Gaming in October, Evolution Gaming in April and NetEnt in May have really paid off.
PlayNow has more than 370,000 customers at the moment, which is an excellent customer base for a site operating in a province with a population of 4.8 million.
The excellent online results were achieved with less capital spending during the latest fiscal period. C$1.6 million were C$2.9 million below the initially budgeted figure and less than half the BCLC spent in 2015-2016.
Lottery fell by 2% to C$1.13 billion, with 10% fewer lottery retailers and 3% fewer lottery terminals.
On the other hand, the brick and mortar gaming division recorded revenue of C$1.86 billion, an improvement of 23.7%, almost entirely due to the increased video slot demand (which was up 6%).
The land-based gaming division of the BCLC consists of 15 casinos, 2 race-course casinos, 18 community gaming centres and 6 commercial bingo venues.