Municipal Gaming Revenue and Reserves

The City of Burnaby received $19,269,827 in gaming revenue in 2023, with $2,972,138 used for operating expenses and $16,297,689 for capital projects. The Gaming Reserve had a balance of $11,318,425 at the end of 2023, and the Gaming Interest Reserve had a balance of $4,624,175 after earning $718,378 in interest and funding $4,146,692 in operating expenses.

Gaming Reserve and Gaming Interest Reserve

• The City receives 10% of the net Provincial proceeds from the Grand Villa (Gateway Casino) through a Host Financial Assistance Agreement with the Province of BC.

• The Gaming Reserve and Gaming Interest Reserve are used for Council-approved initiatives.

• The Gaming Reserve had a balance of $11,318,425 at the end of 2023, after $19,269,827 in expenditures.

• The Gaming Interest Reserve had a balance of $4,624,175 at the end of 2023, after earning $718,378 in interest and funding $4,146,692 in operating expenses.

Reporting and Financial Considerations

• The information is reported to the Province annually by March 15.

• The Gaming Reserve and Gaming Interest Reserve have sufficient funding for capital and operating initiatives approved in the 2024 Financial Plan.