Representatives of British Columbia Ferry Services Inc. said that province officials have to provide them with a bigger share of the revenues. Otherwise placing slot machines on the ships would not bring them any financial benefit.
Company’s CEO Mike Corrigan said that he has scrutinized all advantages and disadvantages the idea of the government would bring about. There is a possibility authorities to allow passengers who travel destinations such as Victoria – Metro Vancouver, take part in gambling activities while on the board of a ferry.
However, according to Corrigan’s estimates, the company is not going to make a profit out of the availability of gambling facilities on the board, unless the share they get is increased.
Yesterday, Corrigan said that managers are currently discussing the idea but it is still uncertain if it will come true. Although Corrigan refused to provide details about his estimations, he did confirm that an agreement between British Columbia Ferry Services Inc. and the government might be reached and the establishment of a new, profitable business might be profitable to both sides.
Currently, the deal says that British Columbia Ferry Services Inc. is going to get 25% of the revenue, generated through slot machines after the winnings are paid out. The government is supposed to get the other 75% of the sum.
The Minister of Transportation put forward the idea for placing slot machines on the ferries almost two years ago. Yesterday, he said that before making a final decision, he had to acquaint himself with all details concerning the expenses the slot machines require and the expected revenue they are likely to generate.
If the analysis confirm that the installation of slot machines on the ferries is not going to be lucrative, then, the deal will not be finalized. Stone remained hopeful that the final decision will be made before Christmas.
The Minister added that, expectedly, there were many bureaucratic and security aspects that need to be taken into account.
The Ministry of Finance is in charge of supervising the gambling affairs. Ministry’s spokesperson made an announcement and said that it is not certain if the revenue sharing scheme will be changed. It depends on a variety of factors but in general, the government is willing to reconsider the sharing model, if the desired results are achieved and things are going into the right direction.
At the end of the day, it was up to British Columbia Ferry Services Inc. whether to allow slot machines on the board of the ferries or not.
