Ontario Lottery and Gaming Corporation is here to support its host communities with yet another casino gaming revenue slice. The City of Niagara Falls, Ontario was among the areas benefitting from financial support amounting to CA$3,974,389. It covers the fourth quarter of the fiscal 2019/2020 which spanned between January 1 and March 31, 2020.
Casino Niagara and Fallsview Casino Resort are the two hotspots with a great view that have powered the non-tax gaming revenue allocation in question. The City of Niagara Falls has been relying on this financial support at the end of every fiscal quarter, as it is a way for many local projects to be completed for the benefit of locals and tourists. This week was a special one in this sense.
OLG Allocates Cash
City coffers received an allocation coming from Ontario Lottery and Gaming Corporation bringing some fresh casino cash. The two casino resorts have always been capable of bringing hefty cheques to the City of Niagara due to their popularity as both gaming and leisure destinations. The fourth quarter of the fiscal year ended recently and a joint allocation of CA$3,974,389 was sent.
The payment was smaller than expected, as mid-March Ontario Lottery and Gaming Corporation mandated the closure of all brick-and-mortar casino venues and gambling halls in Ontario. Social distancing is a recommended practice in these trying times, which is why players are encouraged to gamble online via the premium online gaming platform of the Crown corporation. Projections are that the first quarter of the fiscal 2020/2021 would also be impacted by the current lockdown.
The fiscal 2019/2020 managed to amass some CA$22 million in non-tax gaming revenue for the City of Niagara Falls. Ajax is also among the casino host communities benefitting from the Municipality Contribution Agreement with Ontario Lottery and Gaming Corporation. Despite the lockdown, city coffers received some CA$1,252,803 for the fourth quarter of the fiscal year. This amount was less than expected.
Local Projects Fueled
It could be recalled that the third quarter of the fiscal 2019/2020 managed to bring an allocation of CA$1.85 million covering the months between October and December 2019. When all is said and done, the annual tally reached CA$8,333,703, an amount that has been supporting local projects of various magnitude. Ontario Lottery and Gaming Corporation recently confirmed that host municipalities would receive cash despite the ongoing lockdown.
Thunder Bay is another casino host municipality benefitting from the Municipality Contribution Agreement. Gateway Casinos Thunder Bay managed to amass some CA$535,365 throughout the fourth quarter of the fiscal year. Mid-March this gaming venue also closed for business resulting in an impact on the non-tax gaming revenue allocation. The fiscal year as a whole managed to amass some CA$2,501,323 for the city coffers.
Ottawa is another municipality bagging casino cash contributions at the end of the fiscal year as a result of the daily operation at Rideau Carleton Raceway Casino. Some CA$906,338 went straight to the city coffers this week, as the fourth quarter of the fiscal 2019/2020 was a generous one. Some CA$6.3 million has been allocated over the entirety of the fiscal year, as it was confirmed by the Crown corporation.
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