Last summer’s legalization of single-event sports gambling in Canada is turning into a good news, bad news story for B.C. Lottery Corp. (BCLC).
According to its three-year service plan, published Feb. 22 with the provincial budget, the Crown gambling monopoly predicts seven per cent revenue growth in the 2022-23 fiscal year through its PlayNow branded division. However, competition from elsewhere will pose a challenge.
“While we are projecting continued growth, online gambling sites that operate illegally in B.C. (characterized as ‘grey market’) are increasing their investments in sponsorships and advertising here and across the country,” said the BCLC service plan. “As a result, it is becoming more costly for PlayNow.com to compete for advertising and sponsorship opportunities that enhance the brand’s presence and draw players to the only legal option in our province”
