04/04/2014 10:34 EDT | Updated 06/04/2014 05:59 EDT

Layoffs, spending cuts as B.C. Lottery Corporation juggles finances

KAMLOOPS, B.C. - Luck has run out for 67 workers at the B.C. Lottery Corporation as it reorganizes following the departure of former CEO Michael Graydon.

The workers, 29 of them at Crown corporation's head office in Kamloops, B.C., have been laid off.

Interim CEO and President Jim Lightbody says the layoffs were prompted by significant financial pressures.

He blames those pressures on a maturing market, increasing costs and flat revenues.

Along with the layoffs, marketing and advertising expenses have been sliced 23 per cent, contracts with suppliers have been renegotiated and the BCLC fleet program is cancelled.

Lightbody says the cuts are expected to save the corporation as much as $20-million. (CHNL)