Friday November 25, 2022 | VICTORIA, BC
by Mary P Brooke | Island Social Trends
Revenues from the BC Lottery Corporation (BCLC) to the BC Government are back up to normal levels since the pandemic-related downturn.
In fact, in the second quarter (Q2) BC financial report and forecast for the 2022-2023 fiscal year as released today by Finance Minister Selina Robinson, the revenues received from BCLC show as higher than expected ($681 million was expected for Q2 but $800 million was received, or a variance of $119 million). That’s a stronger performance compared to 2021-2022 when the Q2 revenue from BCLC was $525 million.
The BC financial report today shows a 2022-2023 forecast of $1.549 billion in total from BCLC by the March 31, 2023 fiscal year end (up from the original Budget 2022 expectation of $1.415 billion).
Lottery net income goes into general BC coffers:
BCLC promotes their financial contribution to the province as mostly toward health care and education, as stated right on the main page of their corporate website: “We’re a lot more than lotto. Funds generated by lottery, casinos, and sports betting go back to the Province to help support healthcare, education, and community programs all across BC.”
BCLC is provincial crown corporation, with contributions going into general provincial revenues.
Today Minister Robinson said the funds are used for a wide range of things in the province, specifically mentioning “highways, health and education”.
BCLC to be part of ‘putting people first’:
In her 2021-2022 mandate letter to BCLC, Robinson said in May 2021 that the BCLC board is “uniquely positioned to advance and protect the public interest”, with a reminder that the NDP Government is “putting people first” and making life more affordable for everyone, with an expectation that BCLC’s board decisions “maintain, protect and enhance the public services people rely on and make life more affordable for everyone”.
“The British Columbia Lottery Corporation is a Crown corporation that conducts and manages gambling in a responsible manner while focusing on innovation, strategic partnerships and community outreach,” as is stated on the BC Government’s webpage about the BC Lottery Corporation.
Overall crown corporation revenue contributions:
Crown corporations and the BC government work together to plan and communicate their business with tools like mandate letters, service plans and annual reports.
In the Q2 financial report, it shows that of all the crown corporation in BC, the BC Lottery Corporation provides the highest revenues to the province.
That’s followed by the BC Liquor Distribution Branch, ICBC, BC Hydro, and Other (Columbia Power Corporation, BC Railway Company, Columbia Basic power projects, and the self-supported subsidiaries of post-secondary institutions).
===== ABOUT ISLAND SOCIAL TRENDS:
Island Social Trends is a professional news portal at islandsocialtrends.ca . Fully online since mid-2020, Island Social Trends emerged from the groundwork of previous print publications in the west shore: MapleLine Magazine (2008-2010), Sooke Voice News (2011-2013), and West Shore Voice News (2014-2020).
Since 2008, journalist and editor Mary P Brooke has taken a socioeconomic lens to the news of the west shore and south Vancouver Island region, including BC provincial news, and national news impacts. [See Island Social Trends Politics Archive].