The Nova Scotia Gaming Corporation(NSGC)released its 2010-11 Annual Report today, July 12, outlining its business results by balancing economic and social mandates.
Highlights include a $141.6 million payment to the province, $6.6 million spent on research, treatment and education and $4 million in funding for amateur sport through the Support4Sport program.
The payment to the province is 2.9 per cent lower than the previous last year but 8.4 per cent higher than budgeted due to the success of the national draw game, Lotto Max.
"Despite the slight decline, the year went well," said acting president and CEO, Stephen MacDonald. "We delivered $11 million more to the province than budgeted."
One-hundred per cent of gaming industry profits are directed back to Nova Scotia communities to support important government programs and services. The gaming industry accounts for about 650 direct jobs in Nova Scotia and supports over 1,400 retail establishments, many of them small businesses in rural Nova Scotia. This year, retailers earned more than $39 million in lottery commissions.
"Our network of retailers makes significant economic contributions across the province," said Mr. MacDonald. "As part of their lottery business, each of these 1,400 businesses also agrees to complete annual responsible gambling retailer training. It is one more step in ensuring we have a socially responsible gaming industry in Nova Scotia."
The Nova Scotia Gaming Corporation's Annual Report is available at www.nsgc.ca.