Despite an economic slowdown largely caused by declining crude oil prices, Albertans wagered some million more than expected during the first half of the fiscal year.
Through the first six months of the 2015-16 fiscal year, the Alberta Gaming and Liquor Authority reported $909 million in revenue, exceeding prior budget projections of about $898 million.
Spurring the betting were large lottery jackpots, which encouraged casual bettors to take changes on winning big cash prizes, but the province reported decreases in betting via video lottery terminals.
Albertan bettors continue favoring the lottery, but with the provincial economy facing a steep downturn due to the global oil glut, there are being more selective about when and where they spend their dwindling discretionary income.
The result, many say, is fewer people pulling up bar stools at video lottery terminals. The owner of the Bull & Finch in Douglasdale and The Station in Riverbend, Alberta, said his video lottery machines are down about 30 percent for the fiscal year.
Video lottery terminals recorded about $18 million less than anticipated during the first six months of the fiscal year. Fortunately for provincial coffers, that amount more than was replenished by increased casino gaming and lottery activity.
Meanwhile, in British Columbia, the BC Gaming Industry Association (BCGIA) says it is working to improve relationships and educate the public and B.C. officials alike on the benefits of private-sector gaming.
British Columbia has 17 casinos, 19 gambling centers, and six bingo halls that work with the B.C. Lottery Corporation, but the BCGIA wants to see expansion of privately owned casinos and gaming centers, but such expansion is meeting local resistance.
The province profited some $1.25 billion during the 2014-25 fiscal year, with about three-fourths of that coming from slot machines.
But the province’s gambling population is aging, and younger bettors are not attracted to slot machines like their baby-boomer predecessors, which the BCGIA says could have ill-effects on the province’s gaming revenues.
By partnering with area groups, civic leaders, and industry members, the BCGIA hopes to change the minds of locals and gain approval for more innovative, privately owned gambling establishments that can better react to market changes and improve the province’s gaming industry revenues.
