This week, the Ontario Lottery and Gaming Corporation started to send out its quarterly gaming payments to communities which host its casinos. One of the recipients of an allocation for Q1 of 2023-2024 was Niagara Falls. The city received approximately CA$6.3 million for being the host community of Fallsview Casino Resort and Casino Niagara.
OLG’s profits are shared with communities via the Municipality Contribution Agreement. The contract was signed with municipalities decades ago and its aim is to award host communities for being home of OLG’s casinos. Every community is eligible for a different allocation which is calculated by a predetermined formula applied across all gaming establishments.
Sharing Proceeds from Q1
Recently, the City of Niagara Falls received a payment from OLG for Q1 of the 2023-2024 fiscal year worth CA$6,386,158 for hosting Fallsview Casino Resort and Casino Niagara. Since the opening of the latter property in 1996, casino revenue has been a massive economic factor bringing in CA$201,290,153 in tax revenue, which supported numerous community projects.
A while back, Peter Bethlenfalvy, Minister of Finance for Ontario, remarked that by hosting casinos, communities are able to support crucial community programs and services and boost their infrastructure thanks to gambling revenue. In his words, those financial allocations and contributions aid vital programs and services to ensure a better Ontario in the future.
In addition to Niagara Falls, Peterborough also bagged its quarterly gaming allocation. For Q1 of the current FY, the city received a contribution of CA$789,929 for hosting Shorelines Casino Peterborough from April 1, 2023, through June 30, 2023. Since the launch of the casino in October 2018, it delivered a grand total of CA$10,194,294 to the city’s coffers.
According to reports, in the last eight years, casino service providers have put over CA$2 billion in private sector capital across the province. Since 2017, these investments have led to the creation of seven new casinos, one planned development, as well as an additional gambling expansion and non-gaming amenities which contribute to the local economy.
Communities Thankful for OLG’s Support
In June, OLG presented a cheque worth CA$1.45 million to the city of Sault Ste. Marie for hosting another one of its gaming establishments, Gateway Casinos Sault Ste. Marie. This was the city’s allocation of gaming revenue from slots and live table games for the whole 2022-23 fiscal year. Since the opening of the casino, the city has bagged almost CA$34 million for being a host.
Additionally, Greater Sudbury has also been presented with a cheque for its gaming revenue share from 2022-2023. The city received CA$1.93 million for hosting Gateway Casinos Sudbury for the whole FY. At a special ceremony Tom Davies Square, mayor of Greater Sudbury, Paul Lefebvre thanked OLG for its continued support of the local communities.
Source: “Niagara Falls Receives $6.3 Million in Gaming Revenue” 101.1 More FM, July 19, 2023
(No Ratings Yet)
Loading...