Greg Moore, who was appointed CEO of Caesars Entertainment in July 2018, will now be the new head of BCLC. What changes can we expect from this transition? Should casinos watch out for more additions to their portfolios as a result of these transitions?
Greg Moore, the Chair of the Board of Directors of the British Columbia Lottery Corporation, was featured in the NL Morning News this week. He discussed the Crown’s recent decision to choose a new CEO and President, as well as some of the expectations for the right candidate and their abilities in leading the state-run organization forward.
The BCLC is a regulatory body that oversees all legal gaming and lottery operations in British Columbia. It is based in Kamloops, and all of the money it makes from gambling goes back into the province’s infrastructure, communities, education, and healthcare. The company’s online platform, PlayNow, generates revenue that is re-invested in the province’s economy.
The Next President
Mr. Moore spoke about his opinions and forecasts for the perfect next President and CEO of the BCLC during his presence. According to him, the next chief must be as active and interested as the last one, Jim Lightbody, and must reside in Kamloops, near to the Crown corporation’s offices.
While the Crown company is seeking for a new President and CEO, the Board Chair said that the agency has no intentions to relocate its headquarters outside of Kamloops. According to him, the majority of the Crown’s senior personnel is now based in Kamloops, but the CEO will play a key role in both the Kamloops and Vancouver offices.
Mr. Lightbody stepped down from the role in December of last year, and the state-run agency formally began its hunt for a successor this week. After being diagnosed with cancer, the former President has been on medical leave since 2019. Mr. Moore estimates that the hunt for the company’s next CEO will take four to five months.
Mr. Moore further said that Mr. Lightbody was quite active in the Kamloops community, particularly with the Blazers and other business groups. He anticipates that the next contender will be as engaged. Meanwhile, Lynda Cavanaugh will serve as Interim President and CEO until a permanent successor is identified and appointed.
Report for Fiscal Year 2020-21
The BCLC’s stability and well-being are very important to British Columbia. The Crown released its financial report for the fiscal year 2020-21 in August, revealing a record-breaking amount of lottery and eGaming activity. According to the study, the Crown supplied the province with CA$419 million in net revenue for the fiscal year.
Annual Report on Lottery Winnings
The BCLC not only brings in millions of money for the province, but it also distributes hundreds of millions of dollars to lottery winners. The Crown claimed that it handed out CA$891 million in cash rewards to its citizens in the calendar year 2021, with a total of 102 million winning tickets. This is the province’s greatest lottery payment volume in its history.
Victor Kaisar, Victor Kaisar, Victor Kaisar, Victor Kaisar, Victor “The BCLC wants the incoming CEO to be “active and committed” in the Kamloops community,” Radio NL 610 AM, February 16, 2022.