Canucks gamble on lotto for revenue
September 29th, 2003 - Brian Wawryshyn - Canuckscorner.com
The Vancouver Canucks announced a new partnership with the B.C. government yesterday that will see them receive a portion of proceeds from a lottery run by the BC Lottery Corporation.
Under the deal, the lottery corporation will sell $10 scratch-and-win tickets featuring different Canucks players. The team will receive 15 per cent of revenues from those tickets.
The agreement also includes a joint marketing program for Sports Action which allows betting on NHL games. The Canucks will receive 15 per cent of all wagering on professional hockey games once the corporation exceeds the $11 million it collected last year.
"A couple of million dollars is a lot of money for us," said Cobb. "We think the percentages we are getting are fair. I'm happy with the number. It's a good starting point for us."
The agreement is a three-year deal which can be extended to five.
The Canucks taking a percentage of Sports Action revenues means the lottery corporation will be able to continue funding projects and charities around the province.
" Any amounts that were being distributed out of that $11 million last year to the charities will still be there," said Cobb. "We don't get a share of that which makes sense."
For years the Canucks and other small market Canadian teams have argued they deserve a share of lottery revenue, since the governments make money of their products in the form of legalized betting. Similar lotteries are in place in Calgary and Edmonton.
The Canucks hope to make between 1.5 and 2 million dollars in the first year of the agreement.
Notes: The Canucks released nine more players Monday. Forwards Tyler Bouck, Fedor Fedorov, Pat Kavanagh, Zenith Komarniski and Jimmy Roy, Defensemen Dallas Eakins, Mikko Jokela and Jaroslav Obsut were all assigned to Manitoba, leaving the Canucks roster at 27 players.