P.E.I.’s Red Shores Casino profits drop 35% in 2024-25, but ALC says upgrades and strong visitor numbers signal a rebound ahead.
Island revenues shrink despite regional gains
The Atlantic Lottery Corporation (ALC), which owns Red Shores, reported total profits increasing by nearly CAD 12 million in the 2024-25 fiscal year. However, the share returned to Prince Edward Island dipped to CAD 25.9 million — almost CAD 1 million less than the previous year. Meanwhile, the other three Atlantic provinces saw increases in their lottery returns.
Casino profit declines drive the shortfall
Red Shores’ casino operations posted a profit of only CAD 2.5 million in 2024-25, marking a decline of approximately 35 % compared with the prior year. ALC president and CEO Dallas McCready described the year as “challenging,” attributing the drop to cost-of-living pressures and other economic headwinds.
Visitor numbers steady but spending down
McCready emphasised that while visitation figures remained “fairly consistent and strong”, the amount spent per visit has fallen — a trend mirrored across land-based casinos in other provinces. He also noted that large-scale expansion construction at Red Shores may have contributed to the weaker performance.
Live racing revenue holds up
In contrast to the casino games segment, live harness-racing operations at Red Shores maintained consistent revenue. Although fewer bets were placed on-site as more customers shifted to online wagering, McCready and industry stakeholders emphasised the importance of the racing arm to both the horse-community economy and employment on the Island.
Expansion underway for future gains
The casino and entertainment centre is undergoing a major renovation which includes new dining and entertainment offerings. ALC expects the upgrades to be completed in early 2026 — McCready projects that although the expansion may have weighed on last year’s results, the coming years should deliver stronger performance.
Provincial impact and outlook
Prince Edward Island’s Department of Finance had budgeted CAD 30.1 million in revenue from ALC for 2024-25. The weaker casino profits mean less money flowing into areas like health care and education. Nonetheless the province noted that other segments of ALC’s operation partially offset Red Shores’ decline and reaffirmed confidence that the renovations will yield a healthier venue for patrons.
