Treasure Cove revenue up

Gamblers generated $57.4 million in revenue at Treasure Cove during the 2017-18 fiscal year, according to a B.C. Lottery Corp. report released this week.

The total represents a $1.6-million or 2.9-per-cent increase over the figure reached the previous year, with $1.1 million of the rise attributed to the slot machines, which brought in $45.4 million. The table games, meanwhile, brought in $2.2 million, up $88,000 or 4.2 per cent.

Bingo remained as popular as ever, bringing in $9.9 million, up by $465,000 or

4.9 per cent. Treasure Cove remained the top earner among the 25 venues in the province offering the game.

Next highest was Chances Kelowna at $8.7 million.

On the casino side, Treasure Cove was the 10th-highest earner among 17 venues. River Rock Casino Resort in Richmond topped the list at $327.7 million. Billy Barker Casino in Quesnel was at the bottom at $8.8 million.

The figures translated into $13.9 million in commission for Treasure Cove, up $507,000 or 3.8 per cent, with $12.5 million coming from slots and tables and $1.4 million from bingo.

According to the report, service providers receive 25 per cent of the net win from slots, 40 per cent of the net win from tables, 75 per cent of the poker rake, 75 per cent of craps and 60 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 60 per cent of sales on the first $20,000 per week, 40 per cent sales on the next $60,000 per week, and 25 per cent on sales greater than $80,000 per week, all after the prizes have been paid out.

Treasure Cove’s overall total remains significantly down from the $77.3 million spent on gambling in the city in 2007-08.