Things are looking up for the British Columbia Lottery Corp (BCLC). This month, the Crown Corporation published record-breaking revenue for the fiscal year 2016-17. Of particular interest is the 16% growth relating to the BC Canada online casino, PlayNow.
BCLC accredits the double-digit rise in revenue at its online casino to a palpable increase in activity on its digital slot machines. Likewise, the corporation’s land-based casino properties are also experiencing heightened game play on the slots.
The BCLC annual revenue report includes a co-statement from Board Chair Bud Smith, and President and CEO Jim Lightbody.
“In fiscal 2016/17, BCLC generated more than $1.3 billion in net income for the Province of British Columbia, which is $96 million over budget and $26 million ahead of last year, marking another outstanding year of financial performance.
“These strong financial results were achieved through innovation and capitalizing on strategic investments primarily in the slots category in both our bricks-and-mortar and online casinos.”
BC Canada Online Casino Performance
PlayNow.com is the interactive gambling website of British Columbia, regulated by the province. The only authorized BC Canada online casino, PlayNow presents residents of British Columbia – as well as Manitoba, through an operating contract with Manitoba Liquor and Lotteries – a “growing selection of lottery games, sports betting, slots, tables games and bingo entertainment”.
The online gambling venue contributed $157.6 million to the overall $3.14 billion generated by BCLC’s gaming operations in the last fiscal year. Both represent record breaking figures for the corporation. The overall revenue is up 2%, and the online casino’s revenue up 16% from the previous FY2015-16 report.
Even more impressive is the BC Canada online casino’s performance compared to FY2013-14. This year’s results were more than double the amount of two years ago, exhibiting strong and steady growth in the iGaming sector.
The report suggests the continuous growth of PlayNow is “primarily due to content innovation through the continuous introduction of new content while optimizing game mix”. Over the course of the previous FY, BCLC inked deals with two major online gaming software providers, NYX Gaming (November 2016) and NetEnt (May 2017).
The BC Canada online casino now boasts more than 370,000 registered players. If the report’s 53% ‘Player Participation‘ statistics are any indication, it would put the rate of active players (who play at least once per month, live or online) at more than 196,000.
In conclusion to the report’s findings, Mr. Smith and Mr. Lightbody said:
“We’re proud of our performance this year and confident that our people will continue to strike the right balance between creating great entertainment experiences, upholding our social responsibility promise, and meeting our financial targets, to deliver on our commitments to the Province of British Columbia.”
Less Spent, More Gained
Oddly enough, BCLC isn’t investing as much in its iGaming division as their statements would suggest. The regulator claims that its growth is indicative of rising investments, but the report says differently. BCLC funneled $1.6 million into the online casino website, falling well below the intended $2.9 million budget.
It’s not a bad thing, though – quite the opposite. If the regulator is cutting back its budget on the BC Canada online casino, yet continuing to see growth in revenue, that’s a very good sign.