Industry Reports

B.C. First Nations Await CA$3b in Gaming Revenue Allocations by 2045

First Nations have always been working towards the improvement of their communities and guaranteeing their tribal members’ steady income and reliable employment. British Columbia Government wants to support them to the best of its abilities, which could happen via a Gaming Control Act amendment in regards to the upcoming 23 years. If it receives a green light, this would result in some CA$3 billion in allocations by 2045.

Tribal casino venues are a breath of fresh air in a commercial casino field, offering something new to their patrons. Gaming revenue generated by the tribal gaming locations is used for various projects across the First Nation managing them. This week saw the official announcement that British Columbia is making the next step of its plan to support First Nations via its net income. As a result, the tribes would see annual allocations reaching CA$100 million.

203 Tribes Anticipate Annual Allocations

The week saw a proposed amendment to the existing Gaming Control Act of British Columbia that could make it possible for the British Columbia Lottery Corporation to offer its financial support on a regular basis. Regional First Nations could very soon become eligible for allocations amounting to 7 percent of BCLC’s net income.

The arrangement is projected to span over the following 23 years, all the way to 2045. By the last year of this support program, British Columbia’s First Nations are projected to have about CA$3 billion in net income allocations, which could be invested in a vast range of projects. Gaming revenue generated by the Crown corporation is going to be shared via the existing British Columbia First Nations Gaming Revenue Sharing Limited Partnership.

Joining the partnership would make the tribal community eligible for a fair share of the gaming revenue amassed through lottery, online and in-person gambling. Mid-February, the provincial government issued its 2019 budget, highlighting efforts towards benefitting First Nations over the following quarter-century. The British Columbia government made a promise First Nations would receive regular allocations.

Government Proposes Amendment

According to the information issued, tribal communities could receive a minimum of CA$500,000 in allocations on an annual basis. Some of them are projected to bag up to CA$2 million per year thanks to this arrangement. British Columbia’s government has already allocated some CA$194.84 million covering the first 24 months of this to-be-approved support program.

Such a move solidified its commitment and made it clear that even though the amendment might take some time, the effort is there. First Nations could invest the allocations in six general directions to the likes of health programs, local infrastructure, education programs, economic improvement, as well as fiscal management. The overall number of Indigenous communities across British Columbia reaches 203.

All of them would see the support they have been fighting for over the past nearly four decades. Such a milestone moment in history would soon bring to life many projects across British Columbia’s tribal communities. In November 2018, B.C. Premier stated that the government would bring to life the United Nations Declaration on the Rights of the Indigenous Peoples. It is projected to provide the First Nations with more control when it comes to development in their lands.