Casino royalties soar for B.C. cities and towns

Municipalities across B.C. received a record windfall from casino gambling in the past fiscal year, raking in more than $65 million in royalties— upnearly 20 per cent from the year before.

Under provincial regulations, B.C. municipalities receive 10 per cent of casino revenues.

In the City of Vancouver, that worked out to nearly$5 million last year, an increase of 55 per cent over the previous year.

Coun. Peter Ladner said that despite the windfall, he still has concerns about the social impact of casinos.

"And I think a lot of us are becoming concerned that we are depending on this source of revenue," he said. "But when you are looking at public spending that kind of money, it is very, very difficult to say no to."

Toronto consultant Lyle Hall predicted the industry is likely to continue growing at its current rate in the Lower Mainland, citing new casinos thatoffer more entertainment and other amenities.

"With the addition of casinos like River Rock, like Boulevard in Coquitlam, you're seeing casinos built with a variety of amenities around them. They are much more attractive places and they have an appeal to a much broader audience."

Three more casinos are slated to open in the Lower Mainland duringthe next few years. However, that could be the limit, as the provincial government has said no new casino licences will be issued after that.