The British Columbia Lottery Corporation (BCLC) says its online gambling business grew by nearly one-fifth last year but remains a miniscule contributor to its overall revenue.
The provincial gaming monopoly issued its annual report last week, showing its fiscal 2014-15 profit hit a record $1.25b, 6.8% higher than the previous year, on revenue of $2.9b derived from lotteries, casinos, bingo and eGaming.
BCLC reported that its net win per capita rate was $482, around $28 higher than its target, largely as a result of its thriving VIP business. The high-roller gambling business in BC casinos enjoyed an “exceptional performance” during the fiscal year, helping to offset lower lottery sales. Overall casino table game revenue rose nearly 23% to $555.1m.
However, BCLC warned that its reliance on high-rollers – most of whom are Asian tourists – is dangerous. BCLC says these VIPs could choose to patronize casinos in other jurisdictions or simply find other ways to blow their discretionary cash.