NET PROFIT FROM THE TWO RED SHORES


CENTRES WAS $5.72M IN TOTAL MADE UP OF $5.7M FROM THE CHARLOTTETOWN LOCATION AND LOSSES AT


SUMMERSIDE OF $58,000. THIS WAS THE MOST


PROFITABLE YEAR IN RED SHORES’


HISTORY DRIVEN BY STRONG RESULTS FROM THE GAMING FLOOR.


$2.1m and food/beverages $2.7m.


Net profit from the two Red Shores centres was $5.72m in total made up of $5.7m from the Charlottetown location and losses at Summerside of $58,000. Tis was the most profitable year in Red Shores’ history driven by strong results from the gaming floor.


VLT - Tere was a big surge in illegally operated VLTs in the 1980s and so government regulation was introduced in 1991 to reduce the number of sites. In 2003 ALC became the sole operator of VLTs and today there are 300 VLTs on PEI and net revenue amounted to $23.2m in


ONLINE - Tere is limited online gaming on PEI operated via the alc.ca website and players can access lottery, ibingo, pick n click, and Pro Line Sports.


Te PEI government gave approval for online casinos via ALC back in 2021 but these plans were put on indefinite hold after opposition from government ministers, despite the fact the three other Atlantic provinces have agreed to online casinos.


Teir concern is problem gambling and the new Responsible Gambling Strategy is also looking at ways to keep players from illicit offshore gaming sites.


WIRE / PULSE / INSIGHT / REPORTS P67


2022/23 compared to $20.4m the year previously.


VLTs face some changes thanks to the new Responsible Gambling Strategy 2023-2028 which was developed by consulting firm MRSB on behalf of the PEI Lotteries Commission in September last year.


Te strategy recommends the province develop player cards for casino games and VLTs which could then be used to set up deposit and loss limits and provide feedback to player habits. Tere is also a recommendation to remove VLTs from sites which promote alcohol (such as bars and community centres) and into the Red Shores sites.


A cap on VLTs has been suggested to maintain VLT numbers at the same or below current levels whilst limit the ability to gamble using credit cards and limiting access to ATMS in gaming centres.


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