The Ontario Lottery and Gaming Corporation oversees numerous brick-and-mortar casino locations across the province and this week witnessed the regular allocation of gaming revenue received by host communities at the end of each fiscal quarter of the year. Niagara Falls was among the first communities to bag its share at the end of the third quarter of this year. His allocation totaled $3.8 million.
The day-to-day operation of land-based casinos is considered very beneficial to the host communities as they benefit from a portion of the gambling revenue accumulated over the given period of time. This serves as compensation for running the game and is often used for beautification work and various local projects, whether they are major or minor.
niagara falls is arguably the leading municipality in Ontario when it comes to allocating casino revenue, raking in the largest sum at the end of each quarter. This time it reached $3.8 million for the daily operations of the Niagara Fallsview Casino Resort and Casino Niagara. The regular payments are all made according to the prescribed calculation formula. It is applied to all casino locations at the province level.
Treasury Secretary Peter Bethlenfalvy expressed his satisfaction with the allocation being made with the help of the Community Contribution Agreement. At the moment both casinos in Niagara Falls have suspended their daily operations and will remain so until at least January 26th. The community has received a total of $172 million in tax-free gaming revenue since the last month of 1996. Sault Ste. Marie is another community benefiting this week.
The hotspot is also part of the agreement and recently received the regular allocation. In the third quarter of this year, it reached $273,611. Gateway Casinos Sault Ste. Marie is the hotspot for locals and residents of the neighboring communities. Ross Romano, MPP for Sault Ste. Marie pointed out that job creation in the community is to be expected. Since 1999, the community has raked in $32.3 million.
The town of Belleville also benefited from the municipal agreement with the Ontario Lottery and Gaming Corporation as it raked in approximately $557,505 for the daily operations of Shorelines Casino. This casino is one of the newer ones in Ontario and the community has been receiving allocations since early 2017. Individuals are attracted to its offerings on a daily basis.
During that period, the city coffers collected approximately $11.5 million in tax-free gaming revenue. The city of Hamilton is another community that has recently benefited from allocations. This occurs at the end of each quarter as a result of the day-to-day operations of the popular Elements Casino Flamboro. Flamborough-Glanbrook Provincial MP Donna Skelly said the hotspot will continue to support the local community once security restrictions are lifted.
Since 2000, Hamilton has received more than $94 million in tax-free gambling revenue. On January 26th, more information will appear on when the casino will reopen for in-person gambling.
Source: Langley, Alison. “OLG pays $3.8 million to Niagara Falls for hosting casinos“, WellandTribune, January 19, 2022