Home News Port Moody Requests a Review of the Revenue-Sharing Model from Casinos

Port Moody Requests a Review of the Revenue-Sharing Model from Casinos

By Manny Wood.
Fact checked by Wilbur Thompson.

The City of Port Moody has recently passed a resolution calling for a review of the current casino revenue-sharing model in British Columbia. The resolution, put forward by Councillor Samantha Agtarap, argues that the current model unfairly benefits host communities at the expense of the wider region. Currently, the seven municipalities that host casinos receive 10% of the province’s net revenue from legal gambling, which has amounted to over CA$1.5 billion since 1999.

The resolution proposes two solutions: either to pool the gaming revenue from the Lower Mainland and distribute it on a per capita basis or to follow the example of View Royal, where 55% of the region’s gaming revenue is distributed to other Metro Vancouver communities. The hope is that this will bring around CA$270,000 to Port Moody annually.

The resolution highlights the fact that residents from all communities in the region access and use amenities across the area, including hospitals and casinos. Therefore, the revenue generated by gambling should be shared in a more equitable manner. The current model is intended to offset infrastructure and social service costs, but these costs have been minimal.

The resolution also points out that non-host communities are at a disadvantage when it comes to accessing gaming proceeds, as they must apply for community and program grants from the British Columbia Lottery Corporation. The resolution argues that this arrangement is inherently unfair and proposes a more proportionate distribution of funds.

British Columbia’s casinos, including Treasure Cove Casino in Prince George’s, provide significant economic benefits to the province. In financial 2021-2022, Treasure Cove Casino generated almost CA$44 million in revenue for its host community, with slot games contributing CA$40.6 million. The casino is also exploring the possibility of expanding its liquor offerings on its premises, which would increase its occupancy from 2,016 to 3,004 patrons.

It is worth mentioning that Port Moody is a beautiful city located in the province of British Columbia, Canada. The city is located at the head of Burrard Inlet, and it is known for its stunning scenery, outdoor activities, and charming small-town feel.

One of the unique things about Port Moody is its location. The city is nestled between the mountains and the sea, which makes for breathtaking views and plenty of outdoor activities. The nearby mountains provide opportunities for hiking, skiing, and mountain biking, while the ocean offers opportunities for kayaking, fishing, and sailing. Another thing that makes Port Moody unique is its history. The city was founded in 1859 as a small mill town, and it has since grown into a vibrant and diverse community. Despite its growth, Port Moody has managed to maintain its small-town feel and charm. Port Moody is also known for its vibrant arts and culture scene. The city is home to several galleries, theaters, and festivals, including the annual Port Moody ArtWalk and the Golden Spike Days festival.

Finally, Port Moody is known for its commitment to sustainability and the environment. The city has implemented several programs to reduce its carbon footprint and promote sustainable living, including a bike share program, community gardens, and a composting program. Overall, Port Moody is a unique and beautiful city that offers a wide range of outdoor activities, a vibrant arts and culture scene, and a commitment to sustainability and the environment.