Video Lottery Terminal (VLT) revenue across Nova Scotia is growing at a slower pace than in the past few years, according to a new report. The Canadian state is currently reducing its reliance on VLT revenues and reducing the number of machines in gambling venues.
This is one of the highlights of Nova Scotia Regional Lottery Casino Corporation (NSPLCC)’s 2018-2019 business plan on Thursday. Most of the strategic objectives and priorities outlined in the document are the same as last year’s business plan. But forecast figures show that VLT’s revenue growth has slowed over the past few years, most notably in the 2017-2018 fiscal year.
For forecast revenue, there has been growth over the past few years, but revenue has grown at a slower pace, according to the data. Revenue was C$113 million in 2014-2015, while revenue surged to C$133 million in 2015-2016, up $20 million from the previous year. Since then, the growth has only increased by $2 million to $135 million in 2016-2017, and the next period, 2017-2018, saw a modest increase, resulting in sales of $135,2. NSPLCC’S NEW BUSINESS PLANS PROVIDE POSITIVE ESTIMATES FOR VLT REVENUE FOR 2018-2019. This is expected to amount to $139,200. 경마
As with last year’s paper, the provincial casino corporation’s new business plan concludes its achievements and the achievements of casinos, video lottery terminals, and ticket lottery. The largest income is $223,600 (2017-2018 outlook), generated by ticket lottery tickets that remain the most popular form of gambling among Nova Scotians. Casinos, on the other hand, report only $85,900 in revenue over the same period.
VTL: Not a Sustainable Revenue Source
Under its 2018-2019 business plan, the NSPLCC determines that the video lottery segment is not a “sustainable revenue source” at least in the long run. The corporation has taken several steps to keep the local gambling industry economically sustainable and socially responsible. One of them is to gradually eliminate VLT once it becomes obsolete and increase the revenue of other business lines, such as ticket lottery. Since 2011, 155 machines have been removed due to natural natural reduction or because the location has been closed.
Customer satisfaction is one of the priorities for 2018-2019 and improving the player experience of those who purchase lottery products online is of paramount importance, the corporation notes. Instead of visiting casinos and facilities that offer VLTs, we are focusing on online platforms because we recognize a shift in customer preferences that more and more people are playing lottery games and other accidental games online.
Meanwhile, the two casinos in the province are expected to perform better over the coming period, with estimates showing satisfactory growth of approximately $13,000 on an annual basis. Revenue for the period 2017-2018 is estimated to be $69,800, and casino revenue is expected to increase to $82,100 for 2018-2019.