Richmond City Council has benefited massively from the city’s casino. A new report shows that second quarter revenues from the casino where higher than ever before and delivered $5.57 million to the city in taxes, an increase from $4.11 million for the same period last year.The Richmond casino is operated by the Great Canadian Gaming Corporation. Its vice-president, Chuck Keeling, said earlier this week that total revenues have resulted in a “record-setting quarter for the whole company, largely due to River Rock.”
According to Keeling the large amounts of revenue is mainly due to a new VIP table room that opened earlier in the year and offers only baccarat, a favourite amongst the casino’s Asian clientele.
Baccarat is by far the most popular game in Macau, the largest gaming jurisdiction in the world.
Keeling believes that a number of VIP players from Macau could have business interests in British Columbia and hence visit the region on a regular basis.
The report also says that the Richmond casino saw a massive 61% increase in table hold, or net revenues. Last year the casino contributed about $18 million to Richmond City Council.