Wasaga Beach is projected to become the next gaming hotspot on a provincial level, as it has the popularity factor going on and is an already preferred location around the year. The gaming revenue agreement inking is a crucial point of every new casino conversation, as it projects the direction of future development and sets the tone for revenue allocations. The next Wasaga Beach council meeting is about to see a conversation on the subject of the special agreement.
Casino venues offer many ways in which they could help the community and ensure that locals live the best life possible. Large projects on a regional level, beautification work around the city, roadworks, and various improvements could be fueled with the help of casino operation on a regular basis. This is an opportunity eyed by many cities and towns striving to attract a major casino operator to develop in their area and negotiate beneficial Municipal Contribution Agreement.
Casino Revenue Boosts Community
Every host community is eligible for a percentage of the gaming revenue generated at the casino venue built on its land. Ontario Lottery and Gaming Corporation is known for its generous allocations for every host community. The first CA$65 million generated as revenue from the slots machines available on site are crucial for the casino. Some 5.25 percent of that amount is allocated to the host community.
Gaming tables are another popular offering and four percent of the revenue they amass is also added to the overall allocation to the city coffers. Every quarter of the fiscal year ends with a hefty cheque for the city that could be reinvested in the community and fuel various projects.
At the end of the fiscal year or at the beginning of the following one, the city has to publicly issue information about the investments made. The lottery corporation does not give specific rules on how the money should be spent, as it is all very unique to each city or town. For the time being, Wasaga Beach knows very little about its future casino project, with more details coming soon.
Casino Launch Date Announced Soon
Wasaga Beach could use the casino cash for the redevelopment of its downtown area, a project that has been eyed for many months now. Main Street would become much more appealing. Another improvement that could be made is the introduction of lifeguards ready to save lives in case of need and monitor the main beach area.
In a recent statement, Gateway Casinos announced that the new location would be called Cascades Casino Wasaga Beach, meaning that it will bring a more casual atmosphere to the area with both gamin and dining offerings. Earlier this year Gateway Casinos issued its ultimate decision to build at the Mosley Street roundabout which is far from the downtown area but could still attract even more people to the already attractive area.
City councils gave their nod to the business case associated with the casino venue, a crucial point of the project. The next city council meeting is about to bring another important discussion related to the revenue sharing arrangement. Gateway Casinos is also projected to announce an official launch date for Cascades Casino Wasaga Beach that would depend on the groundbreaking one.
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