Richmond reaps record casino haul
The folks at River Rock Casino have never seen net revenues rise so quickly before.
According to a report to Richmond City Council, quarter two revenues at the city’s casino broke records and delivered $5.57 million into city coffers — up from $4.11 million at the same time the year before.
Chuck Keeling, a vice-president at the Great Canadian Gaming Corporation, which operates the Richmond casino, said on Tuesday total revenues have resulted in a “record-setting quarter for the whole company, largely due to River Rock.”
Keeling said the extra dollars come largely from a new VIP table room that opened earlier this year — featuring only baccarat, the game of choice for much of the casino’s “Asian” clientele.
“Baccarat is by far the most popular game of choice in Macau, (which is) by far the largest gaming jurisdiction in the world now,” he said.
“In terms of those VIP players, they could have business interests here in B.C., they could have kids attending school, a second home here, there could be several reasons.”
According to the latest figures, River Rock saw a 61% increase in “table hold,” an industry term Keeling said can be translated as net revenue.
Last year, Keeling added, River Rock’s total contribution to Richmond was about $18 million.