ALC Profits Take a Hit as Players Walk Away from VLTs, Shift to ‘Illegal’ Online Operators - VOCM
This story deserves to be shared
Send it to someone who'd care, or post it on your networks.
The Atlantic Lottery Corporation says tough economic times and what it calls “illegal” gaming operators are to blame for a drop in profits in the 2025-26 fiscal year. ALC’s profits were down nearly $5 million from the previous year. CEO Dallas McCready saying more people are turning away from traditional Video Lottery Terminals, a decline of nearly $10 million.
Despite the drop, ALC saw a $492-million profit last yearMcCready says less foot traffic in bars and restaurants is partially to blame for poor VLT earnings. “The economic challenges, I talked a lot of bar and restaurant owners, and it’s not just that the video lottery play is down, the visits to their businesses are down.”“I think the economy is certainly having an impact on the video lottery business the most. And then some of that play is just shifting to the online play. We obviously get some of that, but a lot of it also goes to the illegal operators.”
This article is an excerpt. To read the full content, visit the original source. VOCM
Related articles
Air Canada cancels 5 more routes to U.S. destinations for 2027 - Global News
Canadians’ frustration with Trump, U. S. on display at quiet border crossing U. S. President Donald Trump's latest criticism of Canada and renewed tariff threats are once again fuelling frustration among Canadians. That sentiment is having a real impact on summer travel plans. Recent statistics indicate many Canadians are choosing not to vacation in the United States this summer. Tim Sargeant visited Quebec's busiest border crossing to gauge travelers' views – Jul 22, 2026
AI stocks undercut markets worldwide as oil climbs to its highest price since May - BNN Bloomberg
Informations complètes et à jour, compilées par Google Actualités à partir de sources d'actualité du monde entier
Opposition Calling for Answers Following Departure of Churchill Falls Negotiator - VOCM
The Premier says he doesn’t know very much about the departure of Bern Coffey from the Churchill Falls negotiating team. The Opposition issued a call last night for the Premier to disclose the reasons for Coffey’s departure. NL Liberal leader John Hogan (VOCM News)Leader John Hogan says the Liberals have been told that Coffey left his role just before the debate in the House of Assembly began, yet government failed to disclose that information publicly. Hogan says he wants to know when the Premier became aware of Coffey’s departure, why he left and why “Newfoundlanders and Labradorians (were) kept in the dark.”Tony Wakeham was asked by reporters this morning about why Coffey left the negotiating team. He says Coffey “dealt directly with the clerk, he didn’t have any direct dealings with me. So…he indicated that….he was leaving, and that’s all I know about it.”
AI stocks tumble and drag down markets worldwide as oil prices climb - BNN Bloomberg
Informations complètes et à jour, compilées par Google Actualités à partir de sources d'actualité du monde entier
Government Moving Ahead with 15 per cent Electricity Discount Starting in January, Doubling Oil Heating Supplement - VOCM
The provincial government is moving ahead with a commitment to lower energy costs for Newfoundlanders and Labradorians with a previously announced 15 per cent discount on electricity bills associated with the Churchill Falls agreement. Premier Tony Wakeham says government understands people need help now, and they will be going ahead with the discount starting in January. Listen to “Premier Tony Wakeham makes an announcement” on Spreaker. “…rather than waiting until the final agreement is completed, beginning in January 2027, residential customers will see a 15 per cent reduction in their Newfoundland Power and NL Hydro electricity bills.”Finance Minister Craig Pardy at NL Hydro (Government of NL)In the meantime, government is doubling the home heating supplement – from $500 to $1000 for eligible residents who heat their homes with oil. according to Finance Minister Craig Pardy. Those who have already applied, will not need to reapply to get the added support.
0 comments
No comments yet. Be the first to share your thoughts!