What Can We Expect from the Appointment of the New BCLC CEO?
The British Columbia Lottery Corporation (BCLC) has begun searching for suitable candidates to fill its currently vacant CEO position.
Last week, the British Columbia Lottery Corporation (BCLC) Chairman of the Board, Greg Moore, spoke to NL Morning News regarding the company’s decision to appoint a new CEO. During the broadcast, Moore shared his expectations regarding the skills and qualities that an ideal candidate must have to lead BCLC forward.
The BCLC is a government agency that regulates all lottery and gambling activities in British Columbia. The company is currently headquartered in Kamloops. All the revenue generated from its gambling proceeds, including its online platform PlayNow, is reinvested into the community projects, infrastructure, healthcare, and education.
Expectations Surrounding the Next BCLC CEO
Moore shared a few thoughts on an ideal BCLC CEO candidate during his appearance. In his words, the new CEO must be proactive and involved like the former Chief Executive, Jim Lightbody, and live in Kamloops close to the Crown corporation’s headquarters.
The BCLC chairman explained that while the company is looking for a new CEO, there are no plans to relocate the head office outside Kamloops. According to Moore, most of the company’s executive staff currently work remotely. However, the new CEO will have a significant role both in the Kamloops and the Vancouver offices.
Last week, the BCLC officially kicked off its search for a replacement for Jim Lightbody, who stepped down from the CEO position in December last year. The former CEO has been on medical leave since 2019, after he was diagnosed with cancer. According to Greg Moore, the search for the company’s new CEO is expected to take between four and five months.
Additionally, Moore noted that Jim Lightbody was passionately involved in the community of Kamloops with business organisations and the Blazers. Moore expects the new candidate to be equally engaged. In the interim, Lynda Cavanaugh will continue as the Acting CEO until a permanent substitution is found and steps into the role.
BCLC Financial Report for 2020-2021
The stability and progress of the BCLC are of immense importance to the economic framework of British Columbia. Last August, the Crown corporation published its financial report for the 2020-2021 fiscal year. The company reported a record-breaking volume of lottery and eGaming sales during this period. According to the report, BCLC generated CA$419 million in net revenue for the province during the past fiscal year.
BCLC Annual Lottery Winnings Report
Besides securing impressive revenue for the province, the BCLC also paid hundreds of millions of Canadian dollars to local lottery players. At the end of 2021, the company reported that it paid out CA$891 million in cash prizes during the year, with a total of 102 million winning tickets. Subsequently, this has been the most significant lottery payout volume in the history of British Columbia.