Chatham-Kent is a region that has benefitted from expansive casino operation over the past nearly a year. Ever since last summer and the official launch of Cascades Casino Chatham, the gaming revenue allocations have doubled from their previous amount. It could be recalled that the municipality used to benefit from the gaming operation at Gateway Casinos located within the Dresden Raceway.
Casino operation is able to support its host community in various ways thanks to the day-to-day gaming activities taking place on its premises. Gaming revenue generated by the gaming machines and tables available makes it easier for the host community to take care of its own projects. A percentage of the gaming revenue goes straight to the city coffers, in this case to the municipality coffers.
Allocations Doubling
The latest figures issued by the municipality point towards a double increase of the allocations bagged by the coffers. The first fiscal quarter which saw the opening of Cascades Casino Chatham also witnessed an allocation amounting to CA$452,642. When compared to the fiscal performance of the same period of the previous fiscal year, the growth was visible. Back in the summer of 2018, the municipality bagged some CA$216,525.
Information about the following quarter was also publicly issued recently. It saw CA$401,654 allocation generated over the quarter covering October to December 2019. It should be taken into account the same quarter of the previous fiscal year succeeded in amassing an allocation reaching CA$194,749, once again nearly twice as little as the sums flowing last year. The overall increase marked over the first two fiscal quarters of operation at Cascades Casino Chatham amounted to 107.7 percent.
Such growth could be contributed to the diversified gaming offerings available at the new casino location. It brought many new offerings that were unavailable at the original slots venue adjacent to the horse racetrack. Players’ expectations were met, as they had been looking forward to the introduction of gaming tables and more for years.
More Cash Coming Soon
It could be recalled that Gateway Casino Dresden closed only days ahead of the official launch of the new casino venue in July 2019. The relocation of gaming machines and the staff was mandated, to ensure that the local employment field is supported while Gateway Casinos and Entertainment is catering to the growing expectations of players.
Mayor Darrin Canniff pointed out that this growth has been expected and it is welcomed by the municipality. Projections for more money coming from the casino operator were also reflected in the budget for 2020 which came with CA$1.6 million in revenue coming from the Ontario Lottery and Gaming Corporation. Along with the financial benefits of the new casino, local businesses have also experienced a positive surge.
Holiday Inn Express & Suites Chatham revealed that it is about to introduce an expansion. As many as 48 new guest rooms are going to be added to the premium inn located in Chatham. This year is projected to bring even more individuals to the gaming venue and swell the municipality allocations even further.
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