Quarterly gaming revenue on tap in Port Alberni

More than $3 million in gaming money was generated in Port Alberni from December to March.

That translated into nearly $212,000 added to the city’s coffers, according to a letter from the provincial minister of safety and solicitor general’s office.

The letter is part of the agenda package for city council’s Tuesday meeting.

The money represents the city’s share of gaming revenue from Chances Rim Rock Gaming Centre for the period Dec. 26, 2010 to March 31, 2011.

A breakdown of gaming centre revenue provided by the ministry showed that the centre took in $3.7 million in revenue, paid out $1.6 million in expenses and showed a net profit of $2.1 million for the three-month period.

The city’s share is based on 10 per cent of the net profit.

In March, Rothwell reported to council that a projected $114,000 in gaming revenue was anticipated.

Council directed staff to allocated $60,000 to Echo Aquatic Centre and $30,000 to support the economic development office.

The $24,000 balance was to be allocated at council’s discretion.

However, at $212,000, nearly double the amount of gaming revenue is coming in.

While no direction has been given with respect to allocating additional gaming funds, two reports provide a clue as to how they can be utilized.

According to the reports, additional gaming revenue is to be used for purposes that fall within the definition of “public benefit” outlined in the city’s community gaming funding agreement.

reporter@albernivalleynews.com