Penticton’s Lake City Casino, which formerly occupied a space in the Penticton Lakeside Resort, raked in a total of nearly $30 million in revenue in its final year.
The casino closed its doors to make way for the Cascades Casino in the South Okanagan Events Centre campus earlier this year, making 2016/17 its final fiscal year, in which it made $29,219,000 in total revenue.
That’s split between $27.646 million in slot revenue and $1.573 in table revenue, according to a fiscal report from the B.C. Lottery Corporation.
That earned the operators of Lake City Casino, also Gateway, $7.663 million for their cut of the profits — at 40 per cent of table revenue and 25 per cent of slot revenue, according to the BCLC website.
Meanwhile, Playtime Penticton, the city’s now-defunct bingo hall, took in a total of $2.145 million in revenue for its final fiscal year.
That revenue earned Gateway Casinos $466,000 for the 2016/17 fiscal year.
Bingo operators take 60 per cent of the first $20,000 per week. After that, they take in 40 per cent up to $80,000 and 25 per cent of revenues after that.
