First Nations Communities in BC to Get a Portion of BCLC Income
These communities are constantly looking out for new ways to generate funds for their member, which is a never-ending process which doesn’t always bring wanted results.
More Funds for the Tribal Communities
However, thanks to the latest initiative, creating new jobs in First Nations communities should be a lot easier. According to available information, the lawmakers in British Columbia intend to amend the provincial Gaming Control Act in order to provide more funds for these communities. If everything goes as planned, and the current piece of legislation gets amended, First Nations communities could count on funds from annual gaming allocations, which often exceed hundreds of millions.
The initiative would allow the allocations going up to 7% of the current net income generated by the provincial gambling monopoly, the British Columbia Lottery Corporation (BCLC). The amendments would set up a support program which will be implemented over 23 years, not liable for review before 2045!
The BCLC has announced the allocations will be made through the existing British Columbia First Nations Gaming Revenue Sharing Limited Partnership.
The initiative was initially announced by the provincial authorities earlier this year, along with the provincial budget for 2019. According to the announcement, the lawmakers wanted to include First Nations communities in the revenue-sharing model, and the only way to set up a legal framework for that was by amending the current act.
Up to C$2 Million for Local Communities
The provincial government has said on numerous occasions that it plans to increase the support it provides for the local First Nations communities, and definitely, the best way to do so is to increase the funds given to these communities, in this case through gaming allocations.
The initial estimates say each of the First Nations tribes will get at least C$500,000 through the revenue-share program, per year. Due to its size, some communities will get more funds, up to C$2 million every year.
This initiative is focused on six important areas, which will benefit the most from the funds acquired through the revenue-share model: public health programs, infrastructure development within a community, education initiatives, financial management and overall improvement of the economic situation in a community.
Authorities in British Columbia pointed out the funds should be used to enable local communities to launch their own initiative is the futures. This way the local First Nations tribes will have the necessary tools to become completely self-sustainable.
A couple of weeks ago, BCLC, Interblock and Gateway Casinos opened a new gaming space at Grand Villa Casino in Burnaby
Founded back in 1985, the British Columbia Lottery Corporation today offers a wide range of gambling products, such as lottery tickets, casinos and legal online gambling. With offices in Kamloops and Vancouver, the crown corporation has 890 direct employees and additional 8,300 employees throughout the province.