Since 2004, the Richmond City Council in British Columbia, has spent 8 million in revenue shares received from gambling enterprises. 2014 was a record year as well, as they hauled in million from River Rock Casino and Resort.
The city has been urged to spend with caution, as the Great Canadian Gaming Corporation’s lease on the land under the casino is set to expire in 2041. Spokesman for the Corporation, Chuck Keeling, confirmed the lease expires, and the Mosqueam First Nation may take control of the building. He did say the company would retain its gaming license with the B.C. Lottery Corporation.
At a recent committee meeting, a consensus was reached which would have the city think about future spending and create a $3 million discretionary account for community initiatives. Councilwoman Carol Day suggests there need to be more guidelines for what exactly constitutes a “community initiative.”
The city has recently budgeted to receive $15 million from the casino annually. With the $21 million that came in last year, it will now budget for $18 million per year. As Councilman Derek Dang put it, “It’s a good problem to have.”
Over the next 10 years, $5 million will help pay for a new Minoru pool and senior center. The city will also spend $700,000 on four additional Royal Canadian Mounted Police members. 15 percent of the cash will go towards grants which would help the council spread $550,000 on community groups. Two percent will go towards the community initiatives account each year.
