Rules Governing the Province’s Bingo Rooms Profits Under Scrutiny

Rules Governing the Province’s Bingo Rooms Profits Under Scrutiny

The Quebec bingos, including the one in Lévis, are holding their breath as the debate takes place about a law alteration which would oblige the institutions to share their revenue with community organizations. There are 60 bingos left in the province and if the rule is set, at least 12 businesses, which are already in a critical situation, will have to close their doors.

The actual sharing rule is set at 55-45%. Every year, the bingos must share 45% of their revenue with local organizations. The 55% left is left for the building’s management. The new rule would modify the proportions according to the profitability of the place. The new rule should be implanted in fall. For Bingo Rive-Sud, the new rule could act as a fresh breeze. The organization filed a fifth consecutive year as a deficit. Again, the financial help firm of Levis (CAFOL) was able to diminish the $20 000 debt.

A simulation was performed and the results were good for the Bingo Rive-sud. The new proportions would keep $70 000 more to operate.

Bingo Rive-Sud distributed close to $135 M to more than 1600 organizations in the past 15 years.

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LifeinQuebec.com Staff Writer

Categories: News
Tags: bingo

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