Mia Gardner | 22 Sep 2020
Though, it is no secret as to why the new record was set. The 19 land-based gambling establishments in the area have been temporarily shut down since March, thanks to the still ongoing world health crisis. This, naturally, granted a massive boos to online casinos, helping to create a new performance benchmark in the process.
But even before being officially closed for quarantine purposes, the BCLC reported that land based venues were already on the decline. A spokesperson for the organisation explained that, for the 12 months that ended on March 31st, an unprecedented decrease was experienced. This was also due to the world health crisis, however, and expectations are that business will return to normal after the province returns lifts quarantine measures.
Even still, the drop in revenues is staggering. The spokesperson went into more detail, revealing that revenue from physical slots fell 2.3% to a total of CAD$1.3 billion. Table games saw an even bigger fall of 8.1%, sitting at a total of a paltry CAD$417 million. As a whole land-based casino revenue saw a reduction of around 5.5%.
Of course, online casinos saw the exact opposite trend, shooting to new, never before seen heights. The spokesperson shared a few details regarding Playnow, the highly popular gambling site operated in the province, and run by the BCLC.
According to reports, Playnow has been soaring into the stratosphere. Though, the spokesperson was quick to point out, online casino revenue was already on an upward trend, even before the world health crisis struck.
Additionally, the BCLC increased weekly deposit limits on their sites. The previous limit sat at CAD$9,999, but was raised to a much higher CAD$100,000. The increase was given the go ahead, it was explained, as a means to draw players from illegal sites. At illegal sites deposits limits are generally much higher, drawing in customers.
It was also clarified that the sports betting features on the site were dramatically enhanced once quarantines had gone into effect, providing a convenient alternative for sports enthusiasts.
Regardless of the reasons, online casino revenue for Playnow rose by as much as 19.5%, up to a total of CAD$179 million.